Cooper-Standard forms joint venture in China

July 28, 2004

Cooper Tire & Rubber Co.´s Cooper-Standard Automotive division has formed a joint venture with Saiyang Sealing Products Co. of China that will build and sell automobile sealing systems.

Cooper-Standard will provide technical, operational and manufacturing expertise to the joint venture, called Cooper Saiyang Wuhu Automotive.

It also will assist with sales and marketing efforts.

Saiyang Sealing Products is the fifth largest sealing supplier in China.

"We are now positioned to grow our business in Asia to better serve the needs of our global OEM customers," says Jim McElya, president of Cooper-Standard.

"The opportunities in China are tremendous. With over 1,100 new vehicles each day on the streets of Beijing and the high demand for new vehicles in the country, we are excited about our prospects in the Chinese market."

The joint venture will have "no effect whatsoever" on Cooper´s plans to sell Cooper-Standard by the end of the year, a Cooper spokesperson told this morning.