Cooper-Standard Holdings Inc. announced on August 2 that it has completed selling its Technical Rubber business to Swiss-based Holcim. The sale was finalized on July 31; the 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 – 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."
In the news release, Cooper Standard said Holcim will continue CSTR`s existing business activities and serve its existing customer base under its new name, Holcim Technical Solutions & Products GmbH. CSTR delivers to Holcim an R&D team, production equipment, and an experienced labor force of 130 employees.
Cooper Standard, headquartered in Northville, Mich., has locations in 20 countries and is a global supplier of sealing and fluid handling systems and components. The company, which is listed on the New York Stock Exchange, employs 23,000 worldwide.
For more information, visit.holcim.com.