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Apr 13, 2018
Cooper Standard Issues 2017 Corporate Responsibility Report

NOVI, Mich., April 13, 2018 /PRNewswire/ -- Cooper-Standard Holdings Inc. (NYSE: CPS) today issued its 2017 Corporate Responsibility Report, titled "Our World-Class Commitment," highlighting how the global automotive supplier is addressing key stakeholder issues.

"In 2017, our global team further demonstrated its ability to drive value through culture, innovation and results," said Jeffrey Edwards, chairman and CEO, Cooper Standard. "This year's report highlights our engagement around innovation as we continue our journey to world-class, which includes our global commitment to improving the communities where we work and live."

The report is based on internal and external stakeholder feedback, which helped Cooper Standard identify the 10 highest priority material topics and their relative impact on the Company's value chain: governance, ethics and compliance; customer satisfaction; product safety; innovation; workplace safety; energy use and greenhouse gas (GHG) emissions; supply chain sustainability; information security; talent management; and community involvement.

In addition to features on innovation and world-class operations, the report focuses on these high priority topics and Cooper Standard's approach to manage them. Key highlights in these 10 areas include:

  • Governance, ethics and compliance: the Company introduced a comprehensive Supplier Code of Conduct designed to help all stakeholders recognize and address ethical issues.
  • Customer satisfaction:Cooper Standard'sGlobal Commercial Council created a robust Customer Satisfaction Index to monitor overall performance on critical metrics, enabling its commercial teams to adjust focus and resources as needed to ensure the highest levels of customer satisfaction.
  • Product safety: continued to evolve and develop processes to manage product safety in 2017, especially for safety-sensitive products, such as fuel and brake lines.
  • Innovation: launched a new Global Technology Center in Livonia, Mich. to accelerate the Company's material science efforts.
  • Workplace safety: achieved its fourth consecutive year of significant improvement in workplace safety and achieved a total incident rate that reached world-class levels.
  • Energy use and GHG emissions: surpassed its annual energy reduction target of 2 percent year-over-year indexed to hours worked, resulting from a number of energy reduction projects completed throughout 2016 and 2017.
  • Supply chain sustainability: implemented a world-class procure-to-pay solution for indirect purchasing in North America.
  • Information security: improved compliance by automating key compliance processes for logical access controls.
  • Talent management: continued to improve elements of the talent management strategy, and identified and developed new tools and processes to further its competitive advantage.
  • Community involvement: through the Cooper Standard Foundation and employee engagement and support, the Company contributed to more than 70 charities in 2017.

To learn more about these topics, or other aspects of Cooper Standard's commitment to corporate citizenship, click here to view the full 2017 Corporate Responsibility Report: http://www.cooperstandard.com/about-us/corporate-responsibility

About Cooper Standard 
Cooper Standard, headquartered in Novi, Mich., is a leading global supplier of systems and components for the automotive industry. Products include rubber and plastic sealing, fuel and brake lines, fluid transfer hoses and anti-vibration systems. Cooper Standard employs approximately 32,000 people globally and operates in 20 countries around the world. For more information, please visit www.cooperstandard.com.

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Contact:
Sharon S. Wenzl 
Cooper Standard
(248) 596-6211 
sswenzl@cooperstandard.com

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SOURCE Cooper-Standard Holdings Inc.