Cooper-Standard posts Euro 90 million loss

ERJ staff report (DS)

Novi, Michigan – Cooper-Standard Holdings Inc.-parent of automotive parts supplier Cooper-Standard Automotive Inc.-posted a net loss of $121.5 million (Euro 90.3 million) in 2008, compared to a loss of $151 million a year earlier, the company announced 2 April.

The Novi-based firm reported sales of $2.59 billion, up 3.4 percent from 2007, but the increase resulted primarily from the full-year impact of 2007 acquisitions, including European businesses of Metzeler Automotive Profile Systems.

In the fourth quarter, Cooper-Standard posted a net loss of $116.1…

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