Europe

Mutares SE & Co. KGaA (ISIN: DE000A2NB650) and Cooper Standard (ISIN: US21676P1030) have signed an agreement on the acquisition of certain operations from Cooper Standard in Poland, Italy, Spain and India including approximately 2,500 employees.

The transaction is still subject to consent of anti-trust and is expected to close in Q2, 2020.

The transaction perimeter in Europe consists of rubber Fluid Transfer Systems plants in Poland and Spain which supply major world-leading Automotive OEMs. The Italian plant serves also as a manufacturer and raw material supplier (compound) of Specialty Sealing Products to the European plants.

The Indian company is a key supplier for sealing solutions as well as fuel and brake delivery systems for the automotive industry with 7 production plants. The combination of this Group and the existing portfolio companies of Mutares, would allow Elastomer Solutions Group to leverage significant synergies in all business areas.

„The foreseen transaction underlines Mutares Automotive, carve-out and turnaround expertise. The acquisition would strengthen the Mutares Automotive segment and offers significant synergy potential to the Elastomer Solutions Group. This will help both companies to improve in the fields of Sales, Operations and Administration and has also a benefit for Cooper Standard“, says Johannes Laumann CIO of Mutares.