Peak Sport Products Co. to Use Cooper Standard's Applied Materials Science Fortrex™ Technology Platform for Next Generation Footwear
NOVI, Mich., May 20, 2019 /PRNewswire/ -- Cooper Standard (NYSE: CPS) has announced today that Peak Sport Products Co. (PEAK) will use Cooper Standard's proprietary Fortrex™ technology platform in developing and commercializing foamed midsoles in athletic shoes.
Cooper Standard, through its Applied Materials Science business, will provide licensing, technical information, and Fortrex™ materials and catalysts to PEAK for use in its next generation athletic footwear.
"We are pleased to have this opportunity to work with an innovative athletic product leader like PEAK," said Jeffrey DeBest, president advanced technology group, Cooper Standard. "This agreement illustrates the diversity of our Applied Materials Science business and the breadth of applications of our Fortrex™ chemistry platform. We look forward to partnering with PEAK in creating higher performing midsoles for next generation footwear product lines."
Fortrex™ is an innovative chemistry, developed through Cooper Standard's i3 innovation process, which is used to produce a family of high-performance elastomeric materials. Significant advantages include durability, compression set, resilience, and temperature resistance, all within lighter weight and faster processing materials. Fortrex™ materials can take on many forms, including dense extrusions, foams, films and membranes and can be tuned for a wide range of applications and performance solutions.
"We look forward to the partnership, which will reinforce our innovation," said Xu Zhihua, Chief Executive Officer of PEAK Sports. "Cooper Standard is a famous global company, I believe Fortrex™ material can be applied in PEAK running shoes, walking shoes and basketball shoes."
About PEAK Sports
PEAK works to facilitate the development of global sports brands and provide premium products and services for the betterment of human health.
About ATG
Cooper Standard'sAdvanced Technology Group (ATG) is a dedicated team within Cooper Standard that accelerates growth and maximizes the value of Cooper Standard's products and technologies in diverse markets. ATG is comprised of our Applied Materials Science Group which supplies and licenses materials, process technology and services to customers in a broad range of industrial, customer and specialty applications; and the Industrial and Specialty Group, a leading solutions provider of high-quality, cost-effective components to diverse customer segments based on materials science and processing expertise.
About Cooper Standard
Cooper Standard, headquartered in Novi, Mich., is a leading global supplier of systems and components for the automotive industry. Products include sealing, fuel and brake delivery, and fluid transfer systems. Cooper Standard employs approximately 30,000 people globally and operates in 21 countries around the world. For more information, please visit www.cooperstandard.com.
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Contact:
Sharon S. Wenzl
Cooper Standard
(248) 596-6211
sswenzl@cooperstandard.com
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SOURCE Cooper Standard
