Simplify the following text for a Grade 7 native English-speaking person.
Original: Cooper Tire began a 51 % owned joined venture with Shandong Chengshan Tire Co in 2006 to produce truck and passenger car tires for mainland Chinese and export markets .
Simplified: Cooper Tire began a 51 % owned joined venture with Shandong Chengshan Tire Co in 2006 . They will produce truck and passenger car tires for Chinese and export markets .