UPDATE 1-Cooper-Standard emerges from bankruptcy

Newswire

* Emerges with $650 million less debt * Exits bankruptcy as auto industry turns around By Tom Hals WILMINGTON, Del., May 27 (Reuters) - Cooper-Standard Holdings Inc said it emerged on Thursday from a 10-month bankruptcy during which the maker of automotive systems shed $650 million of debt. The company emerged under the control of bondholders, who swapped their debt for equity in the reorganized company. The Novi, Michigan-based company employs about 16,000 workers worldwide and ...

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