Cooper-Standard to own 95% of JV with Huayu
Will take ownership to nine manufacturing facilities and two technical centres in China
Cooper-Standard announced that it will increase its equity in the Huayu-Cooper Standard Sealing Systems joint venture (JV) to 95%, buying an additional 47.5%. Shanghai Zhaotun Collective Assets Managing Company will retain the other 5% stake. In a company statement Cooper-Standard said it expects the acquisition to close in the first quarter of 2015, subject to Chinese regulatory and other approvals.
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