Novi-based Cooper Standard announced today it will sell its thermal and emissions product line to Halla Visteon Climate Control Corp. to better focus on its four core product groups where it holds a leading market position.
“A strategic decision was made to divest our thermal and emissions product line and allow the company to focus resources on our four core product groups: sealing and trim, fuel and brake delivery, fluid transfer, and anti-vibration systems,” says Jeffrey Edwards, chairman and CEO of Cooper Standard, which employs more than 25,000 people globally.”
Edwards says the company plans to transfer the product line; related assets from operations in North America, Germany, France, and the Czech Republic; and certain engineering and other resources in North America and Germany, to existing HVCC locations over the next several months.
“We will work closely with HVCC to ensure a smooth transition,” Edwards says.
Products in the thermal and emissions product line include exhaust gas recirculation modules as well as electronic coolant pumps and valves.
Halla Visteon Climate Control is a full-line automotive supplier of climate systems and components. Products include heating ventilation and air conditioning; compressors; powertrain cooling; fluid transport; and electric, hybrid, and fuel cell vehicle thermal systems. With 35 manufacturing sites supported by four global technical centers in 19 countries, HVCC employs nearly 14,500 people.
HVCC is a 70-percent owned subsidiary of Visteon Corp. in Van Buren Township (NYSE: VC) and is traded on the Korea Stock Exchange.
The sale is expected to be finalized in the third quarter.