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  Cooper-Standard buys majority stake in Indian seals

24 January 2008

 

Cooper-Standard Automotive has bought a majority stake in Indian sealing systems group Metzeler Automotive Profiles India.

Cooper-Standard bought the Metzeler businesses in Germany, Belgium, Italy, Poland and Belarus last August, in a deal that also included a joint venture company in China.

The new deal gives Cooper-Standard a 74 per cent stake in the MAP India, with the other 26 per cent held by Toyoda Gosei, the Japanese-owned fluid power and seals group.

MAP India has manufacturing plants in New Delhi and Gurgaon, employing 1,000 people and with a turnover of around $26 million. Customers include Toyota, Tata Motors, Ford, Mahindra & Mahindra and Maruti-Suzuki.

Cooper-Standard already has fluid systems division plants at Chennai and Pune in India.