Cooper Standard Expands Community Support with New Foundation
Cooper Standard Foundation fosters and encourages employee and community partnership
NOVI, MI--June 10, 2013: Cooper-Standard Holdings Inc. (OTCBB: COSH), a leading global supplier of automotive sealing, fuel and brake, and fluid transfer systems, today announced the establishment of the Cooper Standard Foundation to support children's charities, education, health and wellness, and community revitalization within the communities Cooper Standard employees work and live. The private foundation is managed by its own board of directors and, in addition to supporting charitable organizations, offers employee engagement opportunities and college scholarships for employees' children.
"Cooper Standard is proud to expand its philanthropic initiatives with the establishment of the Cooper Standard Foundation," said Jeffrey Edwards,chairman andCEO, Cooper Standard. "The foundation is being launched to further the reach of Cooper Standard's charitable giving and has been funded with an initial $2 million to be distributed in the next two years. Future funding is expected to increase as Cooper Standard continues to grow as a leading global automotive supplier."
The foundation's employee engagement program encourages employees to raise charitable funds and earn a matching contribution. Additionally, through the foundation, children of employees can earn scholarships when attending a U.S. university based on grade point average, leadership and community involvement. Each year, the foundation will offer 20 one-year $2,500 scholarships and 50 one-year $1,000 scholarships to deserving students.
Cooper Standard and its employees embrace the importance of community involvement and this new avenue will further support and encourage employees to get involved and benefit the communities where they live and work. Cooper Standard and the Cooper Standard Foundation will support numerous community organizations and initiatives in close proximity to the more than 75 facilities it operates throughout the world.
Cooper Standard, headquartered in Novi, Mich., is a leading global supplier of systems and components for the automotive industry. Products include sealing and trim, fuel and brake, fluid transfer, thermal and emissions and anti-vibration systems. Cooper Standard employs more than 22,000 people globally and operates in 19 countries around the world.