NORTHVILLE, Mich., Aug. 2, 2023 /PRNewswire/ -- Cooper-Standard
Holdings Inc. (NYSE: CPS) today announced it has completed the sale
of its Technical Rubber business to Switzerland-based Holcim. Based in Mannheim,
Germany, Cooper Standard Technical
Rubber (CSTR) offers versatile sheeting, compounding and flooring
solutions. The sale was finalized on July
31, 2023. Terms of the sale were not disclosed.
"Cooper Standard is committed to
our Technical Rubber team and ensuring a smooth transition for our
employees and Holcim," said Ramsey
Changoo, vice president and managing director – ISG
(Industrial and Specialty Group). "Holcim is an ideal partner for
this transition as it is focused on further growing the business
and leveraging the expertise of the Technical Rubber team toward
future success."
Holcim will continue CSTR`s existing business activities and
serve its existing customer base under its new name of Holcim
Technical Solutions & Products GmbH. CSTR offers an innovative
R&D team, state-of-the art production equipment as well as an
experienced labor force of 130 employees who can help drive the
growth of Holcim's business across Europe.
About Cooper Standard
Cooper Standard, headquartered in Northville, Mich., with locations in 20
countries, is a leading global supplier of sealing and fluid
handling systems and components. Utilizing our materials science
and manufacturing expertise, we create innovative and sustainable
engineered solutions for diverse transportation and industrial
markets. Cooper Standard's
approximately 23,000 employees are at the heart of our success,
continuously improving our business and surrounding communities.
Learn more at www.cooperstandard.com or follow us on Twitter
@CooperStandard.
About Holcim
Holcim is a global leader in innovative
and sustainable building solutions. Driven by its purpose to build
progress for people and the planet, its 60,000 employees are on a
mission to decarbonize buildings, while improving living standards
for all. The company empowers its customers across all regions to
build better with less, with its broad range of low-carbon and
circular solutions, from ECOPact to ECOPlanet. With its innovative
systems, from Elevate's roofing to PRB's insulation, Holcim makes
buildings more sustainable in use, driving energy efficiency and
green retrofitting. With sustainability at the core of its
strategy, Holcim is becoming a net-zero company with 1.5°C targets
validated by the Science Based Targets initiative (SBTi). Learn
more about Holcim on www.holcim.com, and by following us
on Twitter.
Contact for Media:
Chris Andrews
Cooper Standard
(248) 596-6217
CAndrews@cooperstandard.com
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SOURCE Cooper Standard