Cooper Standard Buys 95% of Auto Sealing Venture in China

Cooper-Standard Holdings Inc. has hiked its stake to 95% in its automotive sealing products venture with China's Huayu Automotive Systems Co. in Shanghai. The companies expect to complete the sale in early 2015.

The Novi, Mich.-based company previously held a 47.5% stake in Huayu-Cooper Standard Sealing Systems Co. The remaining 5% will be retained by Shanghai Zhaotun Collective Assets Managing Co.

The venture posted sales of $187 million last year. Cooper Standard describes the company as China's largest maker of synthetic rubber and thermoplastic weather sealing systems.