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Cooper Standard Acquires Majority Share of Automotive Business of Korea-Based LSMtron
Wednesday 16 May 2018

16 May 2018 - Michigan, US-based automotive systems and component supplier Cooper Standard (NYSE: CPS) has acquired 80.1% of Korea-based automotive and industrial manufacturer LS Mtron's automotive parts business to enhance its automotive product offering and capabilities, the company said.
Terms of the transaction were not disclosed.
Through the acquisition, Cooper Standard gains a strategic partnership with LS Mtron, creating the opportunity to cooperate across multiple industries by leveraging the material science capabilities of both companies.
Through the acquisition, Cooper Standard adds both jounce brake lines and charge air cooling technology to its automotive fluid transfer, and fuel and brake delivery systems product lines.
This transaction also further strengthens the company's global market position in both businesses.
Cooper Standard provides products that include rubber and plastic sealing, fuel and brake lines, fluid transfer hoses and anti-vibration systems. Cooper Standard employs approximately 32,000 people globally and operates in 20 countries around the world.
Date Published: 16/05/2018
Target: LS Mtron/ automotive parts business/ 80.1% stake
Country: South Korea
Sector: Motor Vehicles
Type: Corporate acquisition
Status: Closed
Vendor: LS Mtron
Buyer: Cooper Standard
Terms of the deal were not disclosed