Cooper Standard has licensed that its proprietary Fortrex material platform has been licensed to PolyOne Corp. that specialises in polymer materials, services and solutions. Cooper Standard will exclusively retain all rights to Fortrex in its product lines, whereas PolyOne can now sell Fortrex based formulations into select markets within key consumer and industrial segments, including applications in electrical/electronics, healthcare and complex industrial products.
Fortrex is an innovative lightweight elastomeric material platform developed through Cooper Standard's i3 innovation process that offers significant performance advantages over EPDM synthetic rubber, TPV and many other materials in terms of weight reduction, compression set, weathering and durability. Fortrex can take on many forms, including dense extrusions, foams, films and membranes that can be tuned for a plethora of applications and performance solutions, claims the company. Cooper Standard will generate revenue and profit from royalty income based on PolyOne's sale of Fortex based polymer formulations to its customers.
Jeffrey DeBest, president, Advanced Technology Group, Cooper Standard, said the agreement will accelerate the advancement of Fortrex chemistry into industries outside of automotive, to achieve the company's strategic goal of diverse market growth for its materials science innovations.