Cooper-Standard Holdings Inc. (NYSE: CPS) today announced it has completed the sale of its Technical Rubber business to Switzerland-based Holcim. Based in Mannheim, Germany, Cooper Standard Technical Rubber (CSTR) offers versatile sheeting, compounding and flooring solutions. The sale was finalized on July 31, 2023. Terms of the sale were not disclosed.
“Cooper Standard is committed to our Technical Rubber team and ensuring a smooth transition for our employees and Holcim,” said Ramsey Changoo, vice president and managing director – ISG (Industrial and Specialty Group). “Holcim is an ideal partner for this transition as it is focused on further growing the business and leveraging the expertise of the Technical Rubber team toward future success.”
Holcim will continue CSTR`s existing business activities and serve its existing customer base under its new name of Holcim Technical Solutions & Products GmbH. CSTR offers an innovative R&D team, state-of-the art production equipment as well as an experienced labor force of 130 employees who can help drive the growth of Holcim’s business across Europe.
Source: Cooper Standard