Good morning, ladies and gentlemen and welcome to the Cooper-Standard’s Second Quarter 2014 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. Later, we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this conference call is being recorded this morning and the webcast will be available for replay later today. I would now like to turn the call over to Glenn Dong, Vice President and Treasurer. Please go ahead.

Thank you and good morning. Please note, that certain information in this call may be forward-looking and contains statements based on current plans, expectations, events, and market trends that may affect the company’s future operating results and financial position. Such statements involve risks and uncertainties that cannot be predicted or quantified and that may cause future activities and results of operations to differ materially from those discussed. For additional information, we ask that you refer to the company’s filings with the Securities and Exchange Commission. This call is intended to be in compliance with Reg FD and is open to institutional investors, security analysts, media representatives and other interested parties. A reconciliation of certain non-GAAP financial measures used during this call can be found in the appendix of this presentation. At this time, I would like to turn the call over to Jeff Edwards, Cooper-Standard’s Chairman and Chief Executive Officer.

Okay, thank you Glenn. Good morning, everyone. Starting with Page 4, revenue for the quarter was strong. It was up 9.3% from the prior year quarter that exceeded the industry’s growth of 2.2%. Overall, our sales grew organically by 5.9%. As indicated in our first quarter call, we have successfully returned the business to double-digit adjusted EBITDA financial performance delivering 10.7% adjusted EBITDA margins, which is up from the prior year quarter and the first quarter of 2014. Consistent with our strategy to establish full product line capabilities in Asia-Pacific, we have announced the formation of a new joint venture relationship with INOAC. This will greatly accelerate our Fluid Transfer Systems growth in that region. INOAC has an extensive Asia-Pacific footprint, have strong relationships with the Japanese OEMs and a long history of delivering superior rubber and plastics components to the automotive industry. Combining INOAC’s experience with Japanese customers and their Asia manufacturing footprint with Cooper-Standard’s global expertise in the Fluid Transfer Systems business as well as our broad customer base really creates an unmatched potential to gain share of the $2.5 billion fluid transfer automotive market. In addition, we are pleased to announce that we have also closed the sale of our thermal and emissions product line. And then on the operation side for the quarter, I would like to report that we are actively launching new business across multiple platforms for many customers across really all regions. I am pleased to report that as a result of the launch process installed during 2013, all of these launches are tracking green and this is based on our customer metrics. So, we are very pleased about that. Moving on to Page 5, it is our overview of the regions. We will start with Asia. We are very pleased with our…

Thank you, Jeff. Turning to Slide 9, as Jeff mentioned for the quarter Cooper-Standard sales were up 9.3% when compared to same quarter previous year. Higher North American vehicle production levels, share gains in Europe and North America, sales from our Jyco acquisition and $7.9 million of favorable foreign exchange all contributed to this increase. Our North America operations reported sales of $452 million. We are up 13% in a period when production units were up 4.3. This is a result of share and mix gains in our Jyco acquisition. In Europe we continue to gain market share with sales up 7.8% or 2.7% before foreign exchange movements in a relatively flat market. Sales in Asia Pacific were up 14.9% versus the market of 5.1%. Primarily the incremental sales came from our Jyco acquisition and also increased volume. Turning to South American region Brazilian market continues to struggle with vehicle production dropping more than 20% during the period which drove our lower sales. Sales of non-consolidated joint ventures continue to grow nicely generating sales in the quarter of $117 million, up 3.8% from the prior year. Moving to Slide 10, gross profit in the quarter was $146.1 million or 17% of sales, which is fairly impacted by our lean and material cost savings and increased production volumes, which were partially offset by customer price concessions, staffing costs and other operating expenses. SG&A expense for the quarter was $81.9 million or 9.5% of sales compared to $72.7 million or 9.3% of sales in the prior quarter as we continue to vest and build our technology and support our customers globally. Operating profit of $56.5 million was 6.5% of sales. Turning our attention to net income for the quarter, we reported $13.2 million. Please bear in mind that this includes a loss…

Thank you. (Operator Instructions) Our first question comes from Gentry Cline with (indiscernible) Capital. Your line is open.

Thank you. Good quarter guys. On adjusted EBITDA margins, it was 10.7% for the quarter and you mentioned that North America was running at a normalized level. Can you just help us better understand maybe provide a little more clarity on what the double-digit margins for the year is that approaching 11%, 12%? And going forward, what does the margin profile look like over the next three years? Can we get back to 12%, 13% margins, that we are at historically?

What we have said and continue to say is we have double-digit for the year 2014 and we are continuing to say that. We have not gone any further publicly on any other tight margins. You can look at our historical performance. You can look at what we did last year and we pointed to the operational issues around the third and fourth quarter and you can see a recovery now and you can probably make some assumptions of where we are headed.

Got it, okay. And there is something structural that would prevent us from getting back where we were historically?

That’s correct. There is not.

Got it, okay. Thank you.

Sure.

(Operator Instructions) Our next question comes from the line of Dan Kilmurray with UBS. Please go ahead.

Good morning, guys. Could you give us a sense or have you formulated your CapEx plans for sort of ’15 into ‘16 and is there an expectation that it will drill down or stay in this $200 million range?

We have not given guidance yet for 2015/2016. We are, as Jeff mentioned, we are working through significant amount of our strategy. We are looking at growth in Asia. So, that would tend to believe you are going to have some investments, but we have not put a number to that.

Okay, thank you.

(Operator Instructions) Thank you. We have no further questions. This concludes our conference call. You may now disconnect.