NOVI, Mich., May 14, 2018 /PRNewswire/ -- To enhance its automotive product offering and capabilities, Cooper Standard (NYSE: CPS) has acquired 80.1 percent of LS Mtron's automotive parts business. Through the acquisition, Cooper Standard not only expands its core product offerings, but gains a strategic partnership with LS Mtron, a leading Korean automotive and industrial manufacturer, creating the opportunity to cooperate across multiple industries by leveraging the material science capabilities of both companies.
"Our acquisition of LS Mtron's automotive parts business is another important step in our strategy as it expands our core product offerings, as well as our strategic footprint in Korea, China and Brazil," said Jeffrey Edwards, chairman and CEO of Cooper Standard. "We look forward to working closely with LS Mtron to more fully service our global customers."
Through the acquisition, Cooper Standard adds both jounce brake lines and charge air cooling technology to its automotive fluid transfer, and fuel and brake delivery systems product lines. This transaction also further strengthens the Company's global market position in both businesses.
About Cooper Standard
Cooper Standard, headquartered in Novi, Mich., is a leading global supplier of systems and components for the automotive industry. Products include rubber and plastic sealing, fuel and brake lines, fluid transfer hoses and anti-vibration systems. Cooper Standard employs approximately 32,000 people globally and operates in 20 countries around the world. For more information, please visit www.cooperstandard.com.
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Contact: Sharon S. Wenzl
Cooper Standard
(248) 596-6211
sswenzl@cooperstandard.com
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SOURCE Cooper Standard
