NOVI, Mich. (April 20, 2011)—Cooper Standard Automotive will create a joint venture in France worth up to $333.7 million worth of auto body seals, co-injection molded components and other functional plastic and rubber parts.
The agreement will join Novi-based Cooper Standard's operations in France with global manufacturing operations of SociÃ&Copy;tÃ&Copy; des PolymÃ¨res Barres-Thomas., with Cooper Standard taking a 51 percent stake.
SPBT's owner, venture capital fund Fonds de Modernisation des Equipmentiers Automobiles, will hold the remaining shares.
Both companies make sealing, vibration control, hoses and other parts using both plastics and rubber.
SPBT is based in Rennes, France, has three manufacturing sites in France, one in Poland and a joint venture stake at a plant in India.