Company: CPS
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001320461-25-000033
Chunk: 7

Company: Cooper-Standard Holdings Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 7
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 sealing systems products compete with Toyoda Gosei, Henniges, Hutchinson, Standard Profil, HSR&A, SaarGummi and JianXin, among others. Our fuel and brake delivery systems products compete with TI Automotive, Sanoh, Martinrea, Maruyasu and SeAH, among others. Our fluid transfer systems products compete with Conti-Tech, Hutchinson, Teklas, Tristone, Akwel and Fränkische, among others.

7

Joint Ventures and Strategic Alliances

Joint ventures represent an important part of our business, both operationally and strategically. We have utilized joint ventures to enter and expand in geographic markets such as China, India and Thailand, to acquire new customers and to develop new technologies. When entering new geographic markets, teaming with a local partner can reduce capital investment by leveraging pre-existing infrastructure. In addition, local partners in these markets can provide knowledge and insight into local practices and access to local suppliers of raw materials and components.

The following table shows our significant unconsolidated joint ventures as of December 31, 2024:

CountryNameProductsOwnership PercentageThailandNishikawa Tachaplalert Cooper Ltd.Sealing systems20%IndiaPolyrub Cooper Standard FTS Private LimitedFluid transfer systems35%United StatesNishikawa Cooper LLCSealing systems40%ChinaYantai Leading Solutions Auto Parts Co., Ltd.Fuel and brake delivery systems50%ChinaShenya Sealing (Guangzhou) Company LimitedSealing and fluid transfer systems51%

Research and Development 

We have a dedicated team of technical and engineering resources for each product line, some of which are located at our customers’ facilities. We utilize simulation, digital tools, best practices, standardization and track key process indicators to drive efficiency in execution with an emphasis on manufacturability and quality. Our development teams work closely with our customers to design and deliver innovative solutions, unique for their applications. Amounts spent on engineering, research and development, and program management were as follows:

YearAmountPercentage of Sales(Dollar amounts in millions)2024$82.83.0%2023$84.13.0%2022$80.53.2%

Intellectual Property

We believe that one of our key competitive advantages is our ability to translate customer needs and our ideas into innovation through the development of intellectual property. We hold a significant number of patents and trademarks worldwide.

Our patents are grouped into two major categories: (1) specific product invention claims