Global automotive supplier Cooper-Standard Automotive (Novi, Michigan / USA; www.cooperstandard.com) has acquired the auto and brake fuel tubing business of ITT Industries (White Plains, New York / USA; www.itt.com) for USD 205m, in a deal expected to be completed in the first quarter. Part of ITT Fluid Handling (Europe: Hockenheim / Germany; www.ittfluidhandling.com), the ITT business includes plastic and steel tubing for automotive brake and fuel lines. In addition to North America, it employs some 3,500 people in Germany, France and the Czech Republic, with the main European plant at Marsberg / Germany. The USD 437m portfolio also takes in injection moulded quick connects.

A spin-off of Cooper Tire & Rubber (Findlay, Ohio / USA; www.coopertires.com), automotive supplier Cooper was acquired for USD 1.2 bn in December 2004 by two private equity companies, The Cypress Group and Goldman Sachs Capital Partners. Its three business groups of Fluid Handling, Body Sealing and Vibration Control employ some 13,000 people. The global operation last reported turnover of USD 1.84 bn. The acquisition of the ITT business will cement Cooper´s position as the global number three in fluid handling for automotive applications.

About 65% of Cooper Standard Automotive´s sales are with the “big three” automakers, which include Ford, GM and DaimlerChrysler. Europe accounts for 23% of sales. The company´s fluid handling segment has plants in Getafe / Spain, Zdar / Czech Republic and Grünberg, Schelklingen and Speyer / Germany. In line with restructuring measures over the past few years, the number of worldwide sites has been reduced from 60 to 47 in 14 countries, and earnings have continuously improved with rising sales. The current acquisition is unlikely to be the end of the story for the expansive Cooper.