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DGAP-News: STS Group AG
/ Key word(s): Incoming Orders
STS Group AG starts the new year successfully with a strategic e-mobility contract for the European market
In future, STS will produce cover modules for complete battery systems for a hybrid vehicle of a well-known premium sports car manufacturer. The start of production is scheduled for the beginning of 2022. The order with a volume in the single-digit million euro range has a total term of eight years.
After winning several orders for battery cover modules in the e-mobility sector in the Chinese market in 2019, STS has now received its first order for this innovative product in Europe. In doing so, STS is strengthening its position in the European market with a strategically important product. The mentioned modules are high-performance components made of the composite material SMC (Sheet Molding Compound), which have to meet the highest requirements. They guarantee heat resistance and also provide a significant weight reduction compared to conventional materials. The company sees considerable growth potential for this new product group in Europe in addition to the Chinese market.
"STS has the components for the mobility concepts of tomorrow. The order for the battery cover modules clearly underlines this. We are now also pleased to enter the European market with this innovative product group, as we see very promising growth opportunities, especially in the e-mobility sector. With this order we have reached another important milestone in our expansion strategy, which at the same time broadens the foundation for further growth," says Andreas Becker, CEO of STS Group AG.
|Company:||STS Group AG|
|Phone:||+49 (0)811 124494 0|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||948571|
|End of News||DGAP News Service|