NOVI, Mich. (Feb. 8) — Cooper-Standard Automotive has completed the acquisition of the fluid handling systems business of ITT Industries Inc. in a transaction valued at about $205 million.
The acquisition — announced in December — enhances Cooper-Standard´s offering of steel and plastic tubing for fuel and brake lines and quick-connects, and enables the company to provide customers with a more complete line of fluid management solutions for new vehicle platforms.
"This acquisition is another important step for us in our continuing and strategic efforts to lead the industry with a broad range of products that meet the growing needs of our global customers," said Jim McElya, president and CEO, Cooper-Standard Automotive.
"The combination of the ITT Fluid Handling business with the Cooper-Standard Automotive Fluid Systems Division brings together two of the most customer-focused and innovative fluid carrying companies in the industry," said Larry Beard, president of Cooper-Standard´s Global Fluid Systems business.
"Together these two businesses complement one another extremely well both in product innovation and manufacturing excellence."