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Cooper-Standard Reveals Groundbreaking of Mexico Facility

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Cooper-Standard Holdings Inc. (CPS - Free Report) has announced the groundbreaking of a rubber-mixing facility in Aguascalientes, Mexico. The opening of the 100,000-square-foot facility is a crucial step to localize elastomer mixing capabilities and maintain sustained volume growth in Mexico. With localized state-of-the-art mixing capabilities, this Novi, MI-based company is able to offer vertical integration of critical rubber compounds to its facilities all over Mexico.

Cooper-Standard is engaged in designing, manufacturing and selling of sealing, fuel, and brake delivery along with fluid transfer and anti-vibration systems. The company invests in systems and process improvements to progress administrative and support functions, just as manufacturing operations. The new $11-million facility is in sync with Cooper-Standard’s strategy to speed up innovation while maintaining high quality, with speed and efficiency.

The new facility is anticipated to start operations in early 2019 and hire about 100 employees at full capacity. This latest addition marks the company’s 14th rubber mixing facilities around the world, with locations in Brazil, Canada, China, France, Germany, India, Italy, Mexico and the United States.

In the past six months, shares of Cooper-Standard have outperformed the industry it belongs to. During the period, its stock has grown 11.4% in comparison with the industry’s decline of 0.8%.


 

Cooper-Standard currently carries a Zacks Rank #2 (Buy).

A few other top-ranked stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Ferrari N.V. (RACE - Free Report) and Oshkosh Corporation (OSK - Free Report) . While both Allison Transmission and Ferrari sport a Zacks Rank #1 (Strong Buy), Oshkosh carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Allison Transmission has an expected long-term growth rate of 10%. Over the past year, shares of the company have gained 7.5%.

Ferrari has an expected long-term growth rate of 17.3%. Over the past year, shares of the company have gained 57.3%.

Oshkosh has an expected long-term growth rate of 18.3%. Shares of the company have risen 2.3% over the past year.

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