Cooper Standard takes over China automotive sealing firm
27 Feb 2015
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Novi, Michigan – Cooper Standard Holdings Inc. has completed its purchase of Huayu Automotive System Co.’s share in Huayu-Cooper Standard Sealing Systems Co. Ltd, said a 27 Feb company announcement.
“Cooper Standard is now 95 percent equity owner of the business with 5 percent retained by the Shanghai Zhaotun Collective Assets Managing Co,” said the release.
Commenting on the purchase, Cooper Standard CEO Jeffrey Edwards said it would solidify the company’s “leading” position as sealing systems supplier globally.
“Our expanded presence in China is a key element of our profitable growth strategy and allows the company to fully support our customers on global platforms and capitalize on growth opportunities in the region,” he added.
According to the release Cooper Standard is now the largest automotive sealing manufacturer in the domestic Chinese market with nine manufacturing facilities and two technical centers.
Cooper Standard opened its Asia Pacific technical center and headquarters in Shanghai earlier in July 2014.
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