NOVI, Mich. (Jan. 12, 1:45 p.m. ET) — Cooper Standard Automotive Inc. has bought the automotive sealing business of Sigit SpA effective Jan. 1, 2012.
The business acquired in the transaction is operated primarily from Sigit's manufacturing locations in Chivasso, Italy, and Poland. Terms of the sale were not disclosed.
Sigit Sealing has supplied the automotive industry since 1966 and currently supplies global auto makers, including Fiat SpA, Ford Motor Co., General Motors Co., Renault, Volkswagen, and major Tier 1 suppliers, including Denso, Johnson Controls, Lear and TRW.
Through the acquisition, Cooper Standard will consolidate the machinery, contracts and intellectual property of Sigit's sealing business, as well as about 80 employees, into Cooper Standard's existing Cirie, Italy; Battipaglia, Italy; and Piotrkow, Poland operations. The transition is slated to occur over the next four to six months.