Although Cooper-Standard Automotive
was created just four years ago, its chairman and CEO James McElya has wasted no time formulating big plans for its future.
The global automotive supplier was formed
in 2004 when Goldman Sachs Capital
Partners and Cypress Group LLC acquired
the automotive segment of Cooper Tire and
Rubber Co., where McElya was a corporate
vice president. He has since implemented a
global expansion plan, added operations and
invested in a joint venture interest in China,
and bought an equity interest in an Indian
company. By focusing globally, McElya was
able to combat sinking production levels in
North America, skyrocketing materials costs,
intense pressure on margins, rising global
competition and the credit crunch. Instead of
looking at those things as obstacles, he took
them as opportunities to make smart acquisitions to strengthen Cooper-Standard’s position in the market.
Targeting acquisitions is the first prong of
McElya’svisionfor future growth. Acquisitions
are chosen carefully and must help diversity
thecustomerbase,expandtheglobalfootprint
or improve operational excellence.
The second prong is to establish leadership
in products and technology to meet customer
expectations; the third strategy is operational
excellence, focusing on a lean culture with a
disciplined approach to business processes.
In addition to focusing on growing the company, McElya sees a great opportunity in developing recyclable green products that reduce
emissions. For its efforts, last year, the company was honored by the Society of Plastic
Engineers with three finalist awards in the
Most Innovative Use of Plastics Category.
HOW TO REACH: Cooper-Standard Automotive, (248) 596-5900 or
www.cooperstandard.com