Description of Business

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Description of Business

Description of Business

Cooper-Standard Holdings Inc. (together with its consolidated subsidiaries, the “Company” or “Cooper Standard”), through its wholly-owned subsidiary, Cooper-Standard Automotive Inc. (“CSA U.S.”), is a leading manufacturer of sealing, fuel and brake delivery, and fluid transfer systems. The Company’s products are primarily for use in passenger vehicles and light trucks that are manufactured by global automotive original equipment manufacturers (“OEMs”) and replacement markets. The Company conducts substantially all of its activities through its subsidiaries.

Prior to its divestiture on April 1, 2019, the Company also operated an anti-vibration systems (“AVS”) product line. See Note 5. “Divestitures” for additional information.

The Company believes it is the largest global producer of sealing systems, the second largest global producer of the types of fuel and brake delivery products that it manufactures and the third largest global producer of fluid transfer systems. The Company designs and manufactures its products in each major region of the world through a disciplined and sustained approach to engineering and operational excellence. The Company operates in 72 manufacturing locations and 49 design, engineering, administrative and logistics locations in 21 countries around the world.

Subsequent Event

In January 2021, one of the Company’s top customers announced restructuring activities in South America, including its intention to cease manufacturing operations in Brazil. As a result, Cooper Standard’s Brazil manufacturing operations and sales attributable to that customer will be significantly impacted. The Company is assessing the impact of this announcement on its 2021 financial results, but does not expect the action to have a material impact on its business, results of operations, financial condition or cash flows.

In January 2021, two of the Company’s top customers, FCA and Groupe PSA, completed a merger. The combined business was renamed Stellantis. The Company does not expect this merger to have a material impact on the business, results of operations, financial condition or cash flows.