Halla Visteon Climate Control to acquire Cooper-Standard Automotive product line

Halla Visteon Climate Control (HVCC), the 70-percent owned subsidiary of Visteon Corporation, has announced that it plans to purchase the automotive thermal and emissions product line of Cooper-Standard Automotive Inc., a subsidiary of Cooper-Standard Holdings Inc.

This move will help expand its thermal energy management product portfolio and further diversify its customer base. The cash transaction, valued at $46 million (Rs 276 crore) is targeted for completion in the third quarter of 2014.

The business to be acquired encompasses a range of automotive products that will support increased fuel efficiency and reduced emissions. Products include exhaust gas recirculation modules (EGRs), electronic coolant pumps and valves, electronic wastegate actuators and electronic throttle bodies.

“This acquisition builds on HVCC’s thermal energy management offering, and enhances the company’s competitive position as a system and module supplier through solutions that deliver value to customers, investors and employees,” said YH Park, HVCC president and CEO.

HVCC plans to transfer production of these products from Cooper Standard to existing HVCC locations upon completion of the transaction. Physical assets will transfer to HVCC from Cooper Standard operations in North America, Germany, France and the Czech Republic. In addition, certain engineering resources in North America and Germany are to be transferred as part of the transaction.

“Cooper Standard’s thermal and emissions business has strong products, technology and customer relationships,” said Park. “HVCC and Cooper Standard are committed to completing this transaction in a quick and efficient manner, and ensuring a smooth transition for customers, suppliers and the employees involved.”

HVCC’s product portfolio includes heating ventilation and air-conditioning; compressors; powertrain cooling; fluid transport; and electric, hybrid and fuel cell vehicle thermal systems. With 35 manufacturing sites supported by four global technical centres in 19 countries, HVCC employs nearly 14,500 people.