Cooper-Standard to sell thermal and emissions business

Kathleen Burke
AUTOMOTIVE NEWS

Published: July 1, 2014 9:46 am ET
Updated: July 1, 2014 9:49 am ET

Related to this story

Topics Mergers & Acquisitions, Automotive

Cooper-Standard Automotive Inc. has agreed to sell its thermal and emissions product line to Visteon Corp. unit Halla Visteon Climate Control Corp. in a transaction valued at $46 million.

The line includes plastic pumps and water valves, as well as exhaust recirculation systems and electronic throttle bodies.

Under the agreement, Halla Visteon Climate Control plans to move production to its factories; physical assets from Cooper-Standard operations in North America, Germany, France and the Czech Republic are to transfer to Halla Visteon Climate Control; and the companies plan to transfer some engineering resources in North America and Germany from Cooper-Standard to Halla Visteon Climate Control.

The companies announced the deal June 30.

Halla Visteon Climate Control operates 35 plants in North and South America, Europe and Asia.

The deal is expected to close in the third quarter and is subject to adjustments and regulatory approvals.

Cooper-Standard said the sale enables it to develop product lines in which it can gain the most competitive advantage.

“A strategic decision was made to divest our thermal and emissions product line and allow the company to focus resources on our four core product groups: sealing and trim, fuel and brake delivery, fluid transfer and anti-vibration systems,” Cooper-Standard CEO Jeffrey Edwards said in a statement.

Halla Visteon Climate Control customers include the Detroit 3, Tesla Motors, Honda Motor Co., Nissan Motor Corp., Volvo Car Corp., Volkswagen AG, BMW Group and Mercedes-Benz.

“This acquisition builds on HVCC’s thermal energy management offering, and enhances the company’s competitive position as a system and module supplier through solutions that deliver value to customers, investors and employees,” HVCC CEO YH Park said.

Plastics News reporter Kerri Jansen contributed to this story.


Comments

Cooper-Standard to sell thermal and emissions business

Kathleen Burke
AUTOMOTIVE NEWS

Published: July 1, 2014 9:46 am ET
Updated: July 1, 2014 9:49 am ET

Post Your Comments


Back to story


More stories

Image

Atkore expands in PVC conduit, buying American Pipe & Plastics

October 20, 2014 6:06 pm ET

Atkore International Inc. of Harvey, Ill., has acquired PVC conduit maker American Pipe & Plastics Inc. of Kirkwood, N.Y., which serves the...    More

Ford shrinks its supplier 'watch list'

October 20, 2014 1:35 pm ET

Ford purchasing chief Hau Thai-Tang says suppliers are starting to invest in additional production capacity because they think the recovery is real.    More

Image

Plastikon expanding in Kentucky

October 17, 2014 11:24 am ET

Automotive supplier Plastikon Industries Inc. plans to more than double the size of its production facility in Leitchfield, Ky.    More

Image

OnePlastics Group brand created to cover seven different plastics firms

October 17, 2014 9:48 am ET

A Dublin-based company is launching a new brand to unify its plastics businesses into a single entity called OnePlastics Group.    More

Image

PolyOne denies report it's bidding for Klöckner Pentaplast

October 16, 2014 11:44 am ET

UPDATED — Compounding leader PolyOne Corp. is denying a report that it bid as much as $2 billion for film and sheet major Klöckner Pentaplast Gr...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

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

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

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events