Written on 25.06.2011 - Industry
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Cooper Standard expands alliance with Nishikawa Rubber

Cooper Standard Automotive Inc. has signed a memorandum of understanding with Nishikawa Rubber Co., Ltd. providing for the expansion of the existing joint venture relationship between the companies. Cooper Standard and Nishikawa are currently partners in automotive sealing product manufacturing JVs in the USA and Mexico.

The next steps involve the sale by Nishikawa to Cooper Standard of a 20 % interest in Nishikawa’s existing sealing business in Thailand and the subsequent sale by Cooper Standard to Nishikawa of a minority interest in Cooper Standard’s existing sealing business in Myslenice, Poland.

The companies are also restructuring their existing JVs in North America. Nishikawa has acquired additional shares in the US JV, returning to its original 60 % majority position. Cooper Standard will increase its majority position in the JV in Mexico. All transactions are expected to be completed within the year. Both companies will continue to operate other sealing businesses outside the JV relationship.