Cooper Standard takes on global expansion

Chris Sweeney
RUBBER & PLASTICS NEWS

Published: March 27, 2014 8:40 am ET
Updated: March 27, 2014 8:44 am ET

Related to this story

Topics Automotive, Extrusion, United States, Mexico, China, Asia

NOVI, Mich. — Cooper Standard Automotive Inc. is opening 2014 with growing expectations, on the heels of a successful 2013 that saw its sales increase by $200 million to $3.1 billion.

The firm is expanding in all regions of the globe, building a manufacturing plant in Sremska Mitrovica, Serbia; establishing two others in Bawal and Sanand, India; expanding its facility in Aguascalientes, Mexico; and preparing to open technical centers in Shanghai and Manesar, India.

In addition, its parent company is investigating a refinancing of its debt to try to reduce interest costs.

Cooper Standard did not release financial details of its expansion projects.

“We have a pretty significant commitment right now in expanding our footprint,” said Chief Operating Officer Keith Stephenson. “We're doing it in what we think is a responsible and logical way, and we're doing it in each part of the globe.”

Its Serbia facility is nearly complete. The firm said the 193,750-sq.-ft. building is finished, and Cooper Standard is in the process of populating it with equipment for trial runs. Stephenson said the plant should be operational by mid-2014.

The firm said 155 employees are training at its Italy and Poland facilities. Sremska Mitrovica eventually will employ 500. The plant primarily will focus on Cooper Standard's automotive sealing systems and components products, but Stephenson said it later could expand to include its fluid transfer and fuel and brake businesses.

Cooper Standard produces seals using both plastics and rubber.

Once fully operational, the firm projects net annualized labor savings of about $25 million.

The firm just completed its expansion in Aguascalientes, which added 90,000 square feet, increasing the total size to around 310,000 square feet. It expanded capacity at the firm's main sealing facility in the North American region. It also added extrusion and finishing capacity.

India gets 2 manufacturing plants

Cooper Standard is establishing two manufacturing plants and a technical center in India.

The firm said its facility in Bawal will be operational in the second quarter of 2014, and it initially will produce rubber sealing and trim parts.

Its facility in Sanand will open in the first quarter of 2015. It will manufacture sealing and trim, and fuel and brake delivery products.

The company plans to upgrade its existing manufacturing facility in Manesar, India, to include a technical center for research and development. The firm said it will have the capability for prototype development and simulation to drive its product development efforts.

Stephenson said the firm's main focus in China is to finish its technical center, which the company hopes to start operating in April. The executive said the goal is to build up capability to support customers in the Chinese market and, over time, cover Cooper Standard's three core product lines.


Comments

Cooper Standard takes on global expansion

Chris Sweeney
RUBBER & PLASTICS NEWS

Published: March 27, 2014 8:40 am ET
Updated: March 27, 2014 8:44 am ET

Post Your Comments


Back to story


More stories

Image

Bankruptcy court confirms GSE reorganization plan

July 29, 2014 4:01 pm ET

The U.S. Bankruptcy Court in Wilmington, Del., has confirmed the reorganization plan for geomembranes maker GSE Environmental Inc.    More

Image

Vinyl siding's lead slips, but industry pushing back

July 29, 2014 2:04 pm ET

Vinyl siding continues to be the top cladding choice for home builders and remodelers but fiber cement is gaining ground — at an alarming rate...    More

Image

Magna expanding interiors site in Slovakia

July 29, 2014 1:47 pm ET

Magna International Inc. plans to nearly double the size of its manufacturing facility in Trnava, in western Slovakia, to accommodate new automotive...    More

Image

Universal Polymer beefing up capabilities through acquisition

July 29, 2014 12:04 pm ET

Universal Polymer & Rubber Ltd. is growing again and adding to its capabilities, this time via another acquisition and a plant expansion.    More

Image

Formosa to be compensated for Vietnam riot

July 28, 2014 1:44 pm ET

Taiwan's Formosa Plastics Group will receive $2.39 million from the Vietnamese government and insurance companies for damages suffered during the anti...    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events