US automotive supplier Cooper Standard (Novi, Michigan; www.cooperstandard.com) is to sell its European business encompassing elastomer hoses and speciality sealing as well as its operations in India to German industrial holding Mutares (Munich; www.mutares.de). The transaction is expected to complete in the second quarter of 2020, pending regulatory approval.

The deal includes facilities for fluid transfer systems in Częstochowa / Poland and Piotrków Trybunalski / Poland and Borja / Spain, a plant for speciality sealing in Cirié / Italy and all sites in India except for its corporate IT development office in Chennai, Tamil Nadu.

According to Mutares, the combined operations employ approximately 2,500 people and generate annual sales of around EUR 180m. The industrial holding company expects the acquisition to generate synergies through the combination with Elastomer Solutions (Wiesbaum / Germany; www.elastomer-solutions.com), which belongs to the Automotive & Mobility segment in Mutares’ portfolio. Elastomer Solutions manufactures rubber and thermoplastic components at sites in Mexico, Morocco, Portugal and Slovakia.

Cooper Standard supplies sealing, fuel and brake as well as fluid transfer systems for the transportation and industrial sectors. It has approximately 28,000 employees across operations in 21 countries.