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Softing Automotive Electronics wins tender from international automotive manufacturer and receives exclusive order for production equipment

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DGAP-News: Softing AG / Key word(s): Incoming Orders
Softing Automotive Electronics wins tender from international automotive manufacturer and receives exclusive order for production equipment
21.07.2022 / 09:02
The issuer is solely responsible for the content of this announcement.

Softing Automotive Electronics, a wholly owned subsidiary of Softing AG, today announced that it has been awarded an exclusive contract by a southern German manufacturer of premium vehicles to develop and supply a production system for parameterizing and diagnosing vehicles in production. Softing prevailed over a large number of competitors with its technology.

The order has a direct volume of more than EUR 10 million comprising services and products. Softing expects this order to generate add-on revenue of a similar magnitude. The major portion of the revenue estimated to reach up to EUR 20 million will be spread over the next five to six years, with delivery of the first samples to commence in 2023.

The vehicle manufacturer will equip its worldwide production network with the production system to be supplied by Softing. Softing is expected to supply around 10,000 parameterization devices for production. The Softing product is needed to load the data volumes of future vehicle architectures into the vehicles within the time constraints determined by the manufacturing cycle. The previous production system cannot deliver the transmission speed required for this purpose.

Dr. Wolfgang Trier, Chief Executive Officer of Softing AG, commented: "Our wholly owned subsidiary Softing Automotive Electronics has so far focused on vehicle development and servicing. While we are also responsible for parameterization in a sports car manufacturer’s production process, this order marks another important step enabling us to gain a strong foothold in the production process of an international premium manufacturer. We are delighted about this vote of confidence from our customer and are excited to further grow our business with them.”

About Softing AG

Softing is a global management holding company. The companies of the Softing Group produce and market hardware and software in the Automotive Electronics, Industrial Automation and IT Networks segments. They develop high-quality standard technology products and customized solutions in close cooperation with their customers. All three of Softing’s business segments operate in growth markets.


Contact:
Dr. Wolfgang Trier
CEO


21.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Softing AG

Richard-Reitzner-Allee 6

85540 Haar

Germany

Phone:

+49 (0)89 456 56-333

Fax:

+49 (0)89 456 56-399

E-mail:

InvestorRelations@softing.com

Internet:

www.softing.com

ISIN:

DE0005178008

WKN:

517800

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1402613


 

End of News

DGAP News Service

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