STS Group AG achieves "breakthrough" with a new order for electric vehicles in the Chinese market
Hallbergmoos/Munich, 05 September 2018. STS Group AG (ISIN: DE000A1TNU68) the worldwide system supplier for the commercial vehicle industry, listed in the Prime Standard of the Frankfurt Stock Exchange, has received an order to supply a battery cover for an electric vehicle model. This order is of strategic importance for the company in several aspects, as it also opens up a new segment: The STS Group thus becomes a Tier 1 supplier for an EV OEM in China.
"We are particularly pleased about this order to supply these special components for several reasons. On the one hand, it is a breakthrough for STS China to gain a sustainable foothold in the future market for electric mobility - with this order we also qualify as a Tier 1 supplier in this area. On the other hand, the order itself is a statement: A company from a country with great development potential in the field of e-mobility is building on our expertise in precisely this area - this greatly strengthens our work, as it strengthens our position in China and at the same time opens up a new field of application for our technology," explains Andreas Becker, CEO of STS Group AG.
About the STS Group:
STS Group AG, www.sts.group (ISIN: DE000A1TNU68), is a leading global commercial vehicle system supplier to the automotive industry for soft and hard trim. The Group, which has a history of tradition and expertise dating back to 1934, employs more than 2,500 people worldwide and generated pro forma revenue of more than EUR 425 million in 2017. At its 16 plants in total in France, Italy, Germany, Poland, Mexico, Brazil and China, the STS Group produces plastic and acoustic components, such as solid and flexible vehicle trim, noise and vibration-damping materials and entire interior and exterior trim systems. STS is considered a technology leader in the manufacture of plastic injection molding, specialty acoustic products and components of sheet molding compounds (SMC). STS has a strong footprint with plants in China, Europe, Mexico and Brazil. The customer portfolio comprises leading international commercial vehicle and automotive manufacturers.
STS Group AG
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