Cooper-Standard Holdings Inc. is a leading manufacturer of sealing, fuel and
brake delivery, fluid transfer and anti-vibration systems. Our products are
primarily for use in passenger vehicles and light trucks that are manufactured
by global automotive original equipment manufacturers (“OEMs”) and
replacement markets. We conduct substantially all of our activities through
our subsidiaries.
Cooper Standard is a New York Stock Exchange (“NYSE”) listed company
under the ticker symbol “CPS”. The Company has more than 29,000
employees with 98 facilities in 20 countries. We believe we are the largest
global producer of sealing systems, the second largest global producer of the
types of fuel and brake delivery products that we manufacture, the third largest
global producer of fluid transfer systems, and one of the largest North American
producers of anti-vibration systems. We design and manufacture our products
in each major region of the world through a disciplined and sustained approach
to engineering and operational excellence. We operate in 79 manufacturing locations
and 19 design, engineering, and administrative locations.
Cooper-Standard Holdings Inc. was established in 2004 as a Delaware corporation
and began operating on December 23, 2004 when it acquired the automotive segment
of Cooper Tire & Rubber Company (the “2004 Acquisition”). Cooper-Standard
Holdings Inc. operates the business primarily through its principal operating
subsidiary, Cooper-Standard Automotive Inc. (“CSA U.S.”). Since
the 2004 Acquisition, the Company has expanded and diversified its customer
base through a combination of organic growth and strategic acquisitions.
In August 2009, following the onset of the financial crisis and economic downturn
that severely impacted the global
automotive industry, Cooper-Standard Holdings Inc. and its wholly-owned subsidiaries
in the United States and Canada commenced reorganization proceedings in the
United States (the “Chapter 11 proceedings”) and Canada. In May
2010, the Company consummated its reorganization pursuant to a court-confirmed
plan of reorganization and emerged from the Chapter 11 proceedings and the Canadian
proceedings.
In October 2013, Cooper Standard’s common stock was listed on the NYSE
and began trading under the ticker symbol “CPS.” Prior to the NYSE
listing, the Company’s common stock was traded on the Over-the-Counter
(“OTC”) Bulletin Board under the symbol “COSH.”
From 2006 to 2013, the Company accelerated its growth through a number of strategic
acquisitions including the Fluid Handling Systems Operations in North America,
Europe and China (collectively, “FHS”) from ITT Industries, Inc.;
Metzeler Automotive Profile Systems; a hose manufacturing operation in Mexico
from the Gates Corporation; USi, Inc.; the sealing business of Sigit S.p.A.;
a joint venture with Fonds de Modernisation des Equipementiers Automobiles (“FMEA”);
and Jyco Sealing Technology.
We continued strategic acquisitions and partnerships in 2014 and 2015 with the
acquisition of Cikautxo Borja, S.L.U. in Spain, a manufacturer of heating and
cooling hoses; the purchase of an additional 47.5% of Huayu-Cooper Standard
Sealing Systems Co. (“Shenya”), increasing our equity ownership
to 95% and positioning the Company as a leader in sealing systems in the Chinese
automotive market; the formation of a joint venture with Polyrub Extrusions
(India) Private Limited to grow the Company’s fluid transfer systems business
in Asia; and a joint venture with INOAC Corporation of Japan accelerating our
fluid transfer systems strategy in Asia.
As part of its profitable growth strategy, the Company implemented the Cooper
Standard Operating System (“CSOS”) to fully position the Company
for growth and ensure global consistency in engineering design, program management,
manufacturing process, purchasing and IT systems. Standardization across all
regions is especially critical in support of customers’ global platforms
that require the same design, quality and delivery standards everywhere across
the world.
We utilize our technical expertise to provide customers with innovative solutions.
Our engineers combine product design with a broad understanding of material
characteristics for enhanced vehicle performance. We believe our reputation
for successful innovation in product design and materials is the reason our
customers consult us early in their vehicle development and design process of
their next generation vehicles.
Cooper Standard has evolved and further energized its approach to innovation
with its i3 Innovation Process (Imagine, Initiate, Innovate). This approach
is used as a mechanism to capture ideas from across our Company and supply partners
while promoting a culture of innovation.
Ideas are carefully evaluated by a Global Technology Council and those that
are selected are put on an accelerated development cycle with a dedicated innovation
team focused on breakthrough ideas. This team is developing game-changing technologies
based on materials expertise, process know-how, and application vision, which
will drive future product direction. Among recently announced technologies is
ArmorHose™, a breakthrough technology which results in significantly more
durable coolant hoses and eliminates the need for separate abrasion sleeves
on under-hood hose assemblies. Several other significant technologies, especially
related to advanced materials, processing and weight reduction, have recently
been realized. These include: Fortrex™, a revolutionary material that
provides higher performance and lower weight to weather seals; and MagAlloy™,
a new processing technology for brake lines that increases long term durability
through superior corrosion resistance.
The automotive industry is one of the world’s largest and most competitive.
Consumer demand for new vehicles largely determines sales and production volumes
of global OEMs.
The automotive supplier industry is generally characterized by high barriers
to entry, significant start-up costs and long-standing customer relationships.
The criteria by which OEMs judge automotive suppliers include quality, price,
service, performance, design and engineering capabilities, innovation, timely
delivery, financial stability and global footprint. Over the last decade, suppliers
that have been able to achieve manufacturing scale, reduce structural costs,
diversify their customer base and establish a global manufacturing footprint
have been successful.
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