Cooper Standard revenues down on car production slump and unfavourable forex

ERJ staff report (BC)

Novi, Michigan – Cooper-Standard Holdings Inc., the parent company of Cooper Standard Automotive, a supplier of sealing, fuel, brake and fluid transfer systems, has posted financial results for the first quarter ended 31 March 2013.

Revenue of $747.6m (€568.2m) was reported, compared to $765.3m (€581.6m) for the first quarter of 2012. The company said sales were predominantly impacted by vehicle production declines in Europe and an unfavourable foreign exchange balance of $4.8m (€3.6m)

Adjusted EBITDA for the first quarter was $76.7m (€58.3m) or 10.3…

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