Cooper Standard Will Restructure European Unit

Cooper-Standard Holdings Inc. says its automotive unit will shed excess capacity in France and Germany and move some production to its facilities in eastern Europe.

Cooper-Standard Automotive expects to complete the unspecified consolidation by the end of 2017. It anticipates booking restructuring costs of $120 million-$125 million over the next three years.

The company also estimates it will save between $50 million and $55 million annually after the realignment is completed.