Michigan-based Cooper-Standard Holdings Inc., which operates two plants in Bowling Green, filed for
Chapter 11 bankruptcy Monday.
The filing protects the automotive parts manufacturer while it reorganizes its debt.
Cooper-Standard operates a hose plant at 400 Van Camp Road and a seal plant at 1175 N. Main St.
During the first three months of 2009, the company’s sales fell to $401.7 million, a 47 percent decline
compared to the same period in 2008.
Bowling Green Mayor John B. Quinn told city council Monday night he has been told the local plants will
continue to operate at their lower level of recent months.
"Employment is much lower there than we are used to hearing. We have been in some discussions with
the Copper-Standard officials in recent months and this does not come as a complete surprise to
us," the mayor said.
At the same time Quinn said he is aware that a few local manufacturers have called some employees back to
work. He did not name those employers.
Cooper-Standard also makes parts designed to cut down on noise and vibration in cars and trucks.
The firm has cut its workforce by 1,300 people in the last year and is headquartered in the Detroit
suburb of Novi. The firm has about 16,000 employees.
Cooper-Standard was formed in 2004 by private equity firm Cypress Group. The two BG plants were purchased
from Cooper Tire and Rubber Co., Findlay, at that time.