NOVI, Mich.—Cooper Standard Holdings Inc. said it has established the Cooper Standard Foundation to support children's charities, education, health and wellness, and community revitalization within the communities where Cooper Standard employees work and live.
The private foundation, managed by its own board of directors, supports charitable organizations and offers employee engagement opportunities and college scholarships for employees' children.
Jeffrey Edwards, chairman and CEO of Cooper Standard, said the foundation has been funded with $2 million, to be distributed over the next two years, and the funding is expected to increase as Cooper Standard grows.
The foundation's employee engagement program encourages employees to raise charitable funds and earn a matching contribution. Employees' children can earn scholarships when attending a U.S. university based on grade point average, leadership and community involvement. Each year, the foundation will offer 20, one-year $2,500 scholarships and 50, one-year $1,000 scholarships to deserving students.
Cooper Standard, a leading global supplier of automotive sealing, fuel and brake, and fluid transfer systems, employs more than 22,000 globally and operates in 19 countries.