Cooper-Standard Holdings Inc. announced the commencement of a private offering of $25 million aggregate principal amount of additional senior PIK toggle notes due 2018. The company intends to use the net proceeds from the Notes offering for general corporate purposes, including, without limitation, to fund share repurchases and make capital contributions to Cooper-Standard Automotive Inc. The Notes are expected to be treated as a single series with the company's existing $175 million aggregate principal amount of senior PIK toggle notes due 2018 and will have substantially the same terms as those of the Existing Notes. The Notes will have the same CUSIP and ISIN numbers as, and will trade fungibly with, the Existing Notes (except that the Notes issued pursuant to Regulation S under the Securities Act of 1933 will have different CUSIP and ISIN numbers until at least 40 days after the issue date of the Notes).

Cooper-Standard Holdings Inc. announced that it has appointed the company's Chief Executive Officer, Jeffrey S. Edwards, to also serve as chairman of the board of directors. Edwards succeeds James S. McElya as chairman. McElya retired as a director of the company upon the completion of his term on May 9, 2013 and had earlier retired in October 2012 as the company's chief executive officer.

Cooper-Standard Holdings Inc. reported earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of $747.6 million compared to $765.3 million for the first quarter of 2012. Sales were predominantly impacted by vehicle production declines in Europe and unfavorable foreign exchange of $4.8 million. Net income was $20.7 million or $0.86 per share on a fully diluted basis compared to $23.8 million or $0.90 per share in the first quarter of 2012. Net income for the quarter was affected by pre-tax restructuring charges in North America and Europe of $4.8 million and equity earnings from non-consolidated joint ventures of $2.7 million. Adjusted EBITDA was $76.7 million or 10.3% of sales compared to $83.2 million or 10.9% of sales in 2012. EBITDA was $69.6 million against $74.7 million for the same period a year ago. Net income attributable to the company was $23.8 million against $20.7 million for the same period a year ago. Operating profit in the quarter was $36.6 million. Other cash items in the quarter include capital expenditures of $34.3 million. For 2013 with annual sales growth the company projected to be 4% over 2012. Capital expenditures for the year will be within $160 million to $170 million range, with expanded footprint in parts of Asia, Eastern Europe and Brazil. The comp[any additionally expect to incur between $30 million to $40 million to cash restructuring, predominantly in Europe. And anticipate cash taxes to be in the range of $25 million to $35 million.