"We are investing in key technologies in the thermal management area. We believe this will be a high growth segment for Cooper Standard and this investment helps us strengthen our technology and talent base," said Jim McElya, chairman and CEO, Cooper Standard. "Our automotive customers will benefit from an expanded product offering, as well as our enhanced capabilities in developing innovative thermal management solutions that help to improve fuel economy, reduce emissions and enhance vehicle performance."

As part of the acquisition, key members of EDC's thermal management technical team will join Cooper Standard.

Terms of the transaction were not disclosed.