NOVI, Mich., Aug. 15, 2016 /PRNewswire/ -- Cooper Standard (NYSE: CPS) today announced its agreement to acquire the automotive fuel and brake business of AMI Industries and related companies. The North American business was acquired in this transaction effective August 15, 2016. The acquisition of the China portion of the business is subject to regulatory approval. Terms of the acquisition were not disclosed.
"The integration of AMI Industries' fuel and brake business directly aligns with Cooper Standard's profitable growth strategy and globally strengthens the Company's position to further service our customers," said Jeffrey Edwards, chairman and CEO, Cooper Standard.
AMI Industries was established in 2000 to provide tube products to the agriculture, construction, automotive, heavy truck and marine industries. As a natural extension of the tube product line, the company expanded into the fuel and brake business in 2008. Headquartered in Michigan, AMI operates manufacturing plants in Michigan, Indiana and China.
About Cooper Standard
Cooper Standard, headquartered in Novi, Mich., is a leading global supplier of systems and components for the automotive industry. Products include rubber and plastic sealing, fuel and brake lines, fluid transfer hoses and anti-vibration systems. Cooper Standard employs approximately 30,000 people globally and operates in 20 countries around the world. For more information, please visit www.cooperstandard.com.
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SOURCE Cooper Standard