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Halla Visteon Climate Control Completes Acquisition of Thermal and Emissions Product Line of Cooper-Standard Automotive
DAEJEON, Korea, Aug. 1, 2014 – Halla Visteon Climate Control Corp. (KS: 018880) today announced it has completed the acquisition of the automotive thermal and emissions product line of Cooper-Standard Automotive Inc., a subsidiary of Cooper-Standard Holdings Inc. (NYSE:CPS), in a cash transaction valued at $46 million, subject to price adjustment. The transaction was announced by both companies on June 30.
“We are pleased to have completed this acquisition, which provides HVCC with additional technologies that have a solid reputation, and that strengthen our ability to provide thermal energy management systems and modules to support customers’ global platforms,” said YH Park, HVCC president and CEO.
The thermal and emissions product line acquired from Cooper Standard supports HVCC’s focus on delivering fuel-efficient thermal energy management solutions to automakers. Products acquired include exhaust gas recirculation modules (EGRs), electronic coolant pumps and valves, electronic wastegate actuators and electronic throttle bodies.