Mutares scoops up Cooper Standard hose and sealing units German aims to turnaround elastomer products operations of shrinking US group

摘要

US-Cooper Standard Holding Inc.is divesting its European rubber fluid transfer and speciality sealing businesses to Munich,Germany-based private equity firm Mutares SE Co.KGaA.Both parties expect the deal,which involves around 2,500 employees,to be completed by the end of June,subject to antitrust approvals,the companies announced 8 May.The deal,for an undisclosed sum,will see Mutares gain two manufacturing facilities in Poland,one in Spain and another-including an elastomer compounds operation-in Italy.Novi,Michigan-based Cooper Standard's operations in India will also be transferred,with the exception of a corporate IT development office in Chennai.