Novi, Michigan – Cooper Standard has completed the divestiture of its anti-vibration systems (AVS) business to Continental AG, the US parts manufacturer announced 1 April.
The €230-million deal included facilities in Auburn, Indiana; Mitchell, Ontario; Rennes, France; as well as assets in Poland and China, and an equity interest in a JV in India.
The acquired product portfolio includes strut mounts, spring seats, jounce bumpers, hydraulic bushings; body and cradle mounts and mass dampers.
The divestment is part of Cooper Standard’s “growth strategy,” according to chairman and CEO Jeffrey Edwards.
The proceeds, he said, will help Cooper Standard grow its sealing, fuel & brake delivery, fluid transfer systems and materials science businesses.
Announcing the move last November, Continental has said that the business would be integrated into the vibration control unit of its ContiTech division.
The Hanover, Germany-based group aims to leverage to Cooper Standard’s expertise in material and product design, system integration and vehicle testing.
Cooper Standard’s AVS business employs about 1,000 and, according to a 10-K filing last year, generated about $326.7 million (€372 million) in sales in 2017.