Manufacturing Industry
Vehicle sealing shake-up; Two biggest players change hands
Rubber & Plastics News, December, 2004 by Bruce Meyer
Byline: Bruce Meyer
It's not every day that the top two players in a particular market go up for sale at the same time.
But that's what happened this year when Cooper Tire & Rubber Co. and GenCorp Inc. both decided to sell their respective vehicle sealing systems businesses.
Those two units combined to take nearly 40 percent of the $4.7 billion global market, with Cooper's Cooper-Standard Automotive division at No. 1 with a 22-percent share and GenCorp's GDX Automotive next at about 17 percent.
In the end, both businesses ended up with equity or venture capital firms as the two parent companies wanted to concentrate on other businesses.
The similarities in the two deals really end there.
GenCorp's sale of GDX to...
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