Cooper Standard Automotive, a global supplier of systems and components for the automotive industry, has acquired USi from Ikuyo of Japan, effective immediately.
USi provides hard coating process for use in automotive and industrial applications, including bright trim assemblies on vehicles produced by a number of global automakers including Ford, GM, Honda, Hyundai, Nissan and Toyota.
Cooper Standard chairman and CEO Jim McElya said this is an excellent acquisition for them, as it allows them to apply USi's hard coating technology on products they currently offer, while also expanding their product offering.
"USi's portfolio incorporates Japanese, North American and European technologies, which will allow Cooper Standard to offer our global customers a full-range of bright trim sealing assemblies that are quickly gaining popularity," McElya said.
Through the sale, Cooper Standard acquires USi's 109,000 sq ft plant in Rockford; it also gains access to USi's coating process that allows for the development of a multitude of surface finishes to meet growing customer demand.
The company has plans to spread USi's technology and capabilities to its European businesses, where automakers are also seeking bright trim and hard-coated products to enhance overall vehicle appearance.
The terms of the sale have not been disclosed.
