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Auto supplier Cooper-Standard starts foundation

NOVI, Mich. (AP) -- Automotive industry parts supplier Cooper-Standard Holdings Inc. has established a foundation to support children's charities, education, health and wellness, and community revitalization.

The Novi-based company announced Monday that the aim of the Cooper Standard Foundation is to help communities where its employees work and live. The foundation is being funded with an initial $2 million to be distributed in the next two years.

The company says future funding is expected to increase.

The private foundation is managed by its own board and also offers employee engagement opportunities and college scholarships for employees' children.