NORTHVILLE, Mich., Aug. 2, 2023 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) today announced it has completed the sale of its Technical Rubber business to Switzerland-based Holcim. Based in Mannheim, Germany, Cooper Standard Technical Rubber (CSTR) offers versatile sheeting, compounding and flooring solutions. The sale was finalized on July 31, 2023. 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 – ISG (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."
Holcim will continue CSTR`s existing business activities and serve its existing customer base under its new name of Holcim Technical Solutions & Products GmbH. CSTR offers an innovative R&D team, state-of-the art production equipment as well as an experienced labor force of 130 employees who can help drive the growth of Holcim's business across Europe.
About Cooper Standard
Cooper Standard, headquartered in Northville, Mich., with locations in 20 countries, is a leading global supplier of sealing and fluid handling systems and components. Utilizing our materials science and manufacturing expertise, we create innovative and sustainable engineered solutions for diverse transportation and industrial markets. Cooper Standard's approximately 23,000 employees are at the heart of our success, continuously improving our business and surrounding communities. Learn more at www.cooperstandard.com or follow us on Twitter @CooperStandard.
Holcim is a global leader in innovative and sustainable building solutions. Driven by its purpose to build progress for people and the planet, its 60,000 employees are on a mission to decarbonize buildings, while improving living standards for all. The company empowers its customers across all regions to build better with less, with its broad range of low-carbon and circular solutions, from ECOPact to ECOPlanet. With its innovative systems, from Elevate's roofing to PRB's insulation, Holcim makes buildings more sustainable in use, driving energy efficiency and green retrofitting. With sustainability at the core of its strategy, Holcim is becoming a net-zero company with 1.5°C targets validated by the Science Based Targets initiative (SBTi). Learn more about Holcim on www.holcim.com, and by following us on Twitter.
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SOURCE Cooper Standard