Cooper-Standard Holdings Inc. (NYSE: CPS), the parent Company of Cooper-Standard Automotive Inc. (“Cooper Standard”), today announced the official opening of two facilities in China. The new facilities – one in the Huai’an, Jiangsu province and the other in Chongqing – further demonstrate Cooper Standard’s commitment to the strategic importance of China and its automotive market.
The Chongqing facility, officially opened on Feb. 1, is approximately 18,000-square-meters and employs 200 people. The facility will manufacture fluid transfer systems (FTS), fuel and brake delivery (FBD) systems and sealing systems for customers such as Ford Motor Co., Mercedes-Benz and Volvo Car Group.
In January, the joint venture between Cooper Standard and Japan INOAC Corporation officially opened in Huai’an, Jiangsu. The Huai’an facility is dedicated to the manufacture and development of FTS products and establishes a manufacturing hub to help Cooper Standard earn a leading position in Chinese and Asian markets.
Focusing on China, Cooper Standard has accelerated its business development in the Asia Pacific area in recent years. The automotive supplier recently: established a Technical Center in Shanghai, which includes a Test Center for FTS products; acquired majority ownership of its joint venture with Chinese domestic supplier, Huayu Automotive Systems Co. Ltd; expanded the operational scale of its FTS and FBD systems in Eastern China; as well as opened a new sealing facility in Northeast China. These recent achievements demonstrate Cooper Standard’s confidence in the Chinese auto market and the Company’s expansion capabilities.
“The opening of our Huai’an and Chongqing facilities is a further testament to Cooper Standard’s commitment to our customers and the Chinese automotive market,” said Jeffrey Edwards, chairman and CEO, Cooper Standard. “Since 2012, we have more than doubled our investment in the area and are now pleased to employ more than 5,200 employees in 11 manufacturing and technical facilities across the country.”
