Cooper-Standard Automotive Acquires Controlling Interest In Jin Young Standard of South Korea

NOVI, Mich., June 11 -- Cooper Tire & Rubber Company announces that its operating unit, Cooper-Standard Automotive, Inc., has increased its ownership position in Jin Young Standard of South Korea from 49 to 90 percent and has changed the name of the company to Cooper-Standard Automotive Korea, Inc.

Cooper-Standard Automotive has had a relationship with Jin Young since the early 1980's and has had a minority equity interest in Jin Young since 1988. This transaction will give Cooper-Standard Automotive a significant presence in Korea through a well-established company, and will facilitate the expansion of its automotive sealing operations in the growing Asian automotive market.

Cooper-Standard Automotive Korea manufactures automotive sealing and plastic components for the Asian auto industry. Dug Soo Kim, president of Jin Young Standard prior to this transaction, will continue to head the company's operations.

Company Description

Cooper Tire & Rubber Company is headquartered in Findlay, Ohio, and specializes in the manufacture and marketing of automotive products. Products for Cooper Tire include automotive, motorcycle and truck tires, inner tubes, tread rubber and equipment. Cooper-Standard Automotive is an original equipment supplier of sealing, trim, NVH control systems and fluid handling systems for the automotive industry in North America, Europe, Australia and South America. Cooper has more than 20,000 employees and 52 manufacturing facilities in 13 countries. For more information, visit the Company's web site at: www.coopertire.com