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Cooper-Standard Automotive Wins DaimlerChrysler Global Supplier Award
Novi, Mich., January 19, 2007 - Cooper-Standard Automotive received a prestigious DaimlerChrysler global supplier commodity award for powertrain systems at an annual ceremony held during the 2007 North American International Auto Show. Cooper-Standard received this award based on outstanding performance in regards to quality, technology, cost, and supply standards.
"I value the long-term relationship Cooper-Standard has with DaimlerChrysler. I am especially pleased with the recognition of our company's efforts to provide high quality powertrain systems to our customer wherever those parts are needed throughout the world," said Jim McElya, Chairman and CEO of Cooper-Standard.
"At DaimlerChrysler, the contributions of our suppliers are indispensable to our success and we applaud our 2006 Global Supplier Award Winners for their outstanding efforts last year. Mutual achievements can only be realized through high standards, close cooperation and leveraging the strength of our entire supply chain," said DaimlerChrysler global procurement and supply executive Thomas W. Sidlik.
Approximately 500 DaimlerChrysler employees and guests from around the world attended awards ceremony which was held at the Detroit Fire Department's historic firehouse across the street from the auto show. DaimlerChrysler executives presented just six commodity awards this year.
About Cooper-Standard Automotive
Cooper-Standard Automotive Inc., headquartered in Novi, Mich., is a leading global automotive supplier specializing in the manufacture and marketing of systems and components for the automotive industry. Products include body sealing systems, fluid handling systems, and NVH control systems. Cooper-Standard Automotive Inc. employs approximately 19,000 people globally with more than 70 facilities throughout the world. For more information, visit the company's Web site at: www.cooperstandard.com.
Cooper-Standard is a privately-held portfolio company of The Cypress Group and Goldman Sachs Capital Partners Funds.
The Cypress Group is a private equity investment firm managing more than $3.5 billion of capital. Cypress has an extensive track record of making growth-oriented investments in targeted industry sectors and building equity value alongside proven management teams.
Founded in 1869, Goldman Sachs is one of the oldest and largest investment banking firms. Goldman Sachs is also a global leader in private corporate equity and mezzanine investing. Established in 1991, the GS Capital Partners Funds are part of the firm's Principal Investment Area in the Merchant Banking Division. Since 1986, Goldman Sachs' Principal Investment Area has formed 13 investment vehicles aggregating $56 billion of capital to date.
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