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Stabilus S.A. enters into partnership with Cultraro Automazione Engineering S.r.l., expanding its range to include small-format motion control applications

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DGAP-News: Stabilus S.A. / Key word(s): Investment/Alliance
22.11.2021 / 09:07
The issuer is solely responsible for the content of this announcement.


CORPORATE NEWS

Stabilus S.A. enters into partnership with Cultraro Automazione Engineering S.r.l., expanding its range to include small-format motion control applications

Luxemburg/Koblenz, November 22, 2021 - Stabilus S.A. (ISIN: LU1066226637), one of the world's leading suppliers of motion control solutions for a wide range of industries, has entered into a partnership with Cultraro Automazione Engineering S.r.l. ("Cultraro"). In the context of this strategic partnership, Stabilus S.A. acquires 32 percent of the shares from the company's founders. The partnership focuses on expanding the product range in the field of motion control. The transaction is expected to be completed in November 2021. The parties have agreed not to disclose further financial details of the transaction.

Founded in 1997 and based in Rivoli, Italy (near Turin), Cultraro is a world leader in the production of small dampers. With more than 400 employees, Cultraro is represented in the USA, China, India and Germany via its own locations and through partners. Cultraro's products - rotary dampers, axial dampers, linear dampers and push push latches - are widely used in compact motion control applications. In the Home and Appliances sector, the company e.g. supplies dampers for doors and household appliances such as coffee machines, vacuum cleaners, ovens, refrigerators and washing machines. In the Electronics and Tools sector, their offering comprises, among others, dampers for robotics, desk sockets, electric drills and lawnmowers. In the Automotive sector, the company supplies dampers for example for fuel doors, charging doors of electric vehicles, trunk and door handles, grab handles, cup and tablet holders, center consoles and armrests, glove and storage compartments. And in the Services sector, the company provides dampers e.g. for vending machines, displays and ATM devices. In 2020, the company generated revenues in the low double-digit million euro range.

Dr. Michael Büchsner, CEO of Stabilus, said: "The solutions from Cultraro are the perfect addition to our product portfolio in the field of motion control. Due to their smaller format, they are used in the same industries but in other applications. As an established supplier, the company meets the high-quality requirements of both automotive and industrial customers. Together with the dedicated team of Cultraro, we want to realize synergies based on our complementary product portfolios as well as through our strong customer relationships and distribution channels worldwide. We are pleased to announce another strategically important investment, with which we will continue to strengthen our innovative strength for the benefit of our customers, so soon after our recently announced partnership with Synapticon."

The purchase prices of the stakes in Cultraro and Synapticon, a technology company specializing in the development of highly compact and highly integrated motion control electronics with extensive proprietary software and microchip expertise, together amount to a figure in the low double-digit million euro range and will be financed with cash.

Investor contact:
Andreas Schröder
Tel.: +352 286 770 21
E-Mail: anschroeder@stabilus.com

Press contact:
Peter Steiner
Tel.: +49 69 794090 27
E-Mail: stabilus@charlesbarker.de
Charles Barker Corporate Communications

About Stabilus
Stabilus is one of the world's leading providers of motion control solutions for customers across a broad spectrum of industries including mobility, health, recreation, furniture, energy, construction, industrial machinery and automation. With more than eight decades of demonstrated expertise, Stabilus offers reliable and innovative motion control solutions that enable, enhance and automate opening, closing, lifting, lowering and adjusting actions. The company's customized damping and vibration isolation technology protects against shocks, vibrations and noise.
Employing a workforce of more than six thousand worldwide, the company has its operational headquarters in Koblenz, Germany. In the 2021 fiscal year, according to preliminary figures, Stabilus has reported revenues of EUR 937.7 million. Stabilus has a global production network encompassing plants in eleven countries. Additionally, the Group maintains regional offices and relations to sales partners in over fifty countries in Europe, North and South America, as well as in Asia-Pacific. Stabilus S.A. is listed in the Prime Standard segment of the Frankfurt Stock Exchange and included in the SDAX index. www.stabilus.com

About Cultraro

Founded in 1997 and based in Rivoli Italy (near Turin), Cultraro holds a leading position in the production of small dampers. The company has state-of-the-art development, production and testing facilities, more than 400 employees and has locations and partners in the USA, China, India and Germany.

Cultraro develops and produces rotary dampers, axial dampers, linear dampers and push push latches in the following sectors, among others: Home and Appliances, Electronics and Tools, Automotive, Services and Transport. www.cultrarogroup.com

Important notice

This press release may contain forward-looking statements based on current assumptions and forecasts made by Stabilus Group management and other information currently available to Stabilus. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here.


22.11.2021 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:

Stabilus S.A.

2, rue Albert Borschette

L-1246 Luxembourg

Luxemburg

Phone:

+352 286 770 1

Fax:

+352 286 770 99

E-mail:

info.lu@stabilus.com

Internet:

www.stabilus.com

ISIN:

LU1066226637

WKN:

A113Q5

Indices:

SDAX

Listed:

Regulated Market in Frankfurt; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1250733


 

End of News

DGAP News Service

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