Â鶹´«Ã½ acquires Cooper Standard Technical Rubber
- Technology leader for flat roofing systems
- Expands Â鶹´«Ã½â€™s roofing systems in Europe
Â鶹´«Ã½ completed the acquisition of the Cooper Standard Technical Rubber GmbH (CSTR), a leading manufacturer of highly durable and technical rubber products, which are used for roofing systems. Located in Mannheim, Germany, CSTR offers an innovative R&D department, state-of-the art production facility as well as an experienced team of 130 employees, who will fuel further growth of Â鶹´«Ã½â€™s roofing business across Europe.
Jamie Gentoso, Global Head, Solutions & Products: “With CSTR we are further expanding our roofing platform in Europe. I warmly welcome all CSTR employees into the Â鶹´«Ã½ family and look forward to investing in this business’ next era of growth together. By expanding our roofing systems offering, we can play a bigger role in providing innovative and sustainable solutions for energy-efficient buildings and contribute to the green deal of the European Union.â€
CSTR’s innovation-driven approach is highly complementary to Â鶹´«Ã½â€™s existing roofing business. With its strategically located production facility in the Rhine-Neckar area, CSTR adds to Â鶹´«Ã½â€™s other recent acquisitions in roofing and insulation, notably FDT Flachdach Technologie GmbH, a leading manufacturer of thermoplastic roofs. Â鶹´«Ã½ will continue CSTR`s existing business activities and serve its existing customer base while expanding its business under the new name of Â鶹´«Ã½ Technical Solutions & Products GmbH.
With this acquisition Â鶹´«Ã½ is advancing its "Strategy 2025 - Accelerating Green Growth", aiming to expand its Solutions & Products business to 30% of Group net sales by 2025, entering the most attractive segments of construction, from roofing systems to insulation and renovation.
About Â鶹´«Ã½
Â鶹´«Ã½ is a global leader in innovative and sustainable building solutions. Driven by its purpose to build progress for people and the planet, its 60,000 employees are on a mission to decarbonize building, while improving living standards for all. The company empowers its customers across all regions to build better with less, with its broad range of low-carbon and circular solutions, from ECOPact to ECOPlanet. With its innovative systems, from Elevate’s roofing to PRB’s insulation, Â鶹´«Ã½ makes buildings more sustainable in use, driving energy efficiency and green retrofitting. With sustainability at the core of its strategy, Â鶹´«Ã½ is becoming a net-zero company with 1.5°C targets validated by the Science Based Targets initiative (SBTi).
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Important disclaimer – forward-looking statements:
This document contains forward-looking statements. Such forward-looking statements do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets, as the case may be, including with respect to plans, initiatives, events, products, solutions and services, their development and potential. Although Â鶹´«Ã½ believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions as at the time of publishing this document, investors are cautioned that these statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are difficult to predict and generally beyond the control of Â鶹´«Ã½, including but not limited to the risks described in the Â鶹´«Ã½'s annual report available on its website () and uncertainties related to the market conditions and the implementation of our plans. Accordingly, we caution you against relying on forward-looking statements. Â鶹´«Ã½ does not undertake to provide updates of these forward-looking statements.
