NOVI, Mich. -- Cooper-Standard Holdings Inc., parent company of Cooper Standard Automotive, is no longer exploring a possible sale of the company.

Previously, the company’s board of directors commenced a process to evaluate various strategic alternatives to enhance shareholder value, including a possible sale of the company. Now, the board says, based upon current market conditions, it has decided to discontinue its evaluation of a possible sale, but will continue to review opportunities to enhance shareholder value.