Continental AG reached an agreement to acquire Cooper-Standard Automotive Inc.’s anti-vibration systems business for US$265.5 million.
The business unit operates five manufacturing plants in France, India, the United States and Canada, which is also home to R & D capabilities. Cooper-Standard employs approximately 1,000 workers.
The agreement announced Friday also includes a binding offer for substantially all of Cooper-Standard’s anti-vibration business in France and its joint venture in India, Continental said in a statement.
Anti-vibration components include engine and transmission mounts, rubber bushings used in suspension components, such as control arms, and the mounts that are used in subframes.
The business will be integrated into Continental’s ContiTech division, which employs 2,600 at sites in Brazil, China, France, Mexico, Slovakia and the U.S.
Cooper-Standard’s business units include sealing systems and fuel and brake lines.
The acquisition is subject to clearance from antitrust authorities in several countries and the company expects to receive those approvals in the first half of 2019.
Image courtesy of Bloomberg
