By Liz White, ERJ staff
Novi, Michigan-Cooper-Standard Automotive Inc. has announced that it recently finalised the purchase of a Mexican automotive hose plant from Gates Corp. The unit is the Enfriamientos de Automoviles, SA de CV plant, in Atlacomulco.
Strategically this acquisition adds to our core capabilities of supporting our automotive customers throughout the world. It does so in a manner consistent with our overall growth initiatives, by continuing to diversify our customer base,â€ said Jim McElya, ceo of Cooper-Standard Automotive, in Cooper-Standard's statement.
The Mexico hose plant has annual sales of some $25 million, making low-pressure heating and cooling hose, principally for the OEM automotive market, said the group.
Cooper-Standard Automotive, headquartered in Novi, is among the top 40 automotive suppliers globally, with 14000 employees across 47 facilities in 14 countries.
The group-now privately held by partners The Cypress Group and Goldman Sachs Capital Partners-specialises in systems for body sealing, noise and vibration control and fluid-handling for the automotive sector.