Cooper Standard Acquires EDC Technology; Expands Thermal Management Expertise
NOVI, Mich., April 3, 2012 /PRNewswire/ -- Cooper-Standard Automotive Inc. today announced its acquisition of the patents and other intellectual property rights and assets of EDC Automotive LLC relating to automotive thermal management technologies and related product development and testing capabilities. Terms of the transaction were not disclosed.
"We are investing in key technologies in the thermal management area. We believe this will be a high growth segment for Cooper Standard and this investment helps us strengthen our technology and talent base," said Jim McElya, chairman and CEO, Cooper Standard. "Our automotive customers will benefit from an expanded product offering, as well as our enhanced capabilities in developing innovative thermal management solutions that help to improve fuel economy, reduce emissions and enhance vehicle performance."
Already a leading supplier of automotive thermal management solutions, Cooper Standard provides heating and cooling systems and products for multiple powertrains, including hybrids, electric vehicles and internal combustion engines. As part of the acquisition, key members of EDC's thermal management technical team will join Cooper Standard and assist in the integration of EDC's technologies into the broad Cooper Standard portfolio of thermal management products and systems, which include metal, rubber and plastic tubing; superior connection technologies along with electric fluid pumps and 3 and 4 way diverter valves.
About Cooper Standard Cooper Standard, headquartered in Novi, Mich., is a leading global supplier of systems and components for the automotive industry. Products include body sealing systems, fluid handling systems and anti-vibration systems. Cooper Standard employs approximately 21,500 people globally and operates in 19 countries around the world. For more information, please visit the company's website at www.cooperstandard.com.COSH_G
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV