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STS Group AG successfully completes sale of the Acoustics division

·3-min read

DGAP-News: STS Group AG / Key word(s): Disposal
02.11.2020 / 17:56
The issuer is solely responsible for the content of this announcement.

Hallbergmoos/Munich, November 2, 2020. STS Group AG (ISIN: DE000A1TNU68), a global system supplier to the automotive industry, listed in the General Standard of the Frankfurt Stock Exchange, has successfully completed the sale of its Acoustics division consisting of the companies in Italy, Poland and Brazil, announced and signed on August 7, 2020. Following approval by the relevant antitrust authorities and the execution of further conditions, the sale became effective as of November 1, 2020.

With this sale, the STS Group is focusing on its core business in plastics and materials in Europe, as well on the expansion into North American market. The Plastics together with the Materials divisions, account for more than 50% of total sales of STS Group, with the China segment contributing a further 20%.

With the Adler Pelzer Group as new owner, STS Acoustics gains a company that has a strategic interest, in-depth know-how of the business and for which the Italian market is also part of the core business.

Mathieu Purrey, CEO of STS Group AG: "We have taken an important step for the future development of the company. This will allow us to focus even more strongly on our attractive injection moulding and composite technologies in the future. We want to further expand our products in the area of promising lightweight solutions for commercial and electric vehicles. STS Group's strategy of profiting from the current megatrends in the automotive industry is being continued in a focused manner and will be further strengthened by the sale of the Acoustics division".

About STS Group:
STS Group AG ("STS") is a leading system supplier to the automotive industry. It employs more than 1,600 people worldwide and generated revenues of 362.8 mEUR in the financial year 2019. STS produces and develops at its 12 plants and three development centers in France, Germany, Mexico, China and, in the future, also in the USA plastic injection moulding and components made of composite materials (Sheet Molding Compound - SMC), such as solid and flexible vehicle and aerodynamic trim, entire interior systems, as well as lightweight construction and battery components for electric vehicles. STS is considered as a technology leader in the manufacture of plastic injection moulding and components made of composite materials (Sheet Molding Compound - SMC). STS has a large global footprint with plants in three continents. The customer portfolio comprises leading international manufacturer of commercial vehicles, passenger cars and electric vehicles.

STS Group AG
Stefan Hummel
Head of Investor Relations
Zeppelinstrasse 4
85399 Hallbergmoos
+49 811 1244 9412
ir@sts.group
www.sts.group


02.11.2020 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:

STS Group AG

Zeppelinstraße 4

85399 Hallbergmoos

Germany

Phone:

+49 (0)811 124494 0

E-mail:

ir@sts.group

Internet:

https://sts.group

ISIN:

DE000A1TNU68

WKN:

A1TNU6

Listed:

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

EQS News ID:

1144837


 

End of News

DGAP News Service

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