NOVI, Mich. (Jan. 29, 2008) — Cooper-Standard Automotive Inc. has completed its purchase of majority interest in Metzeler Automotive Profiles India Private Ltd. Financial details were not disclosed.
In the transaction, Cooper-Standard acquired 74 percent of the equity in MAP India from Automotive Sealing Systems S.A. The remaining 26 percent in the joint venture is owned by Toyoda Gosei Co. Ltd.
In August, Cooper-Standard Automotive acquired Metzeler sealing systems businesses in Germany, Italy, Poland, Belgium and Belarus, including a joint venture interest in China, from ASSSA in a related transaction.
MAP India´s operations include manufacturing facilities in New Delhi and Gurgaon. Both facilities are dedicated to the production of automotive weathersealing systems and have a combined employment of about 1,000.
Annual revenue from the operations is about $26 million.