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STS Group AG: European sites resume production after Covid-19 related plant closure / Chinese plants with high capacity utilization

2020| Apr| 29
Financial News
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DGAP-News: STS Group AG / Key word(s): Miscellaneous
29.04.2020 / 09:46
The issuer is solely responsible for the content of this announcement.

STS Group AG: European sites resume production after Covid-19 related plant closure / Chinese plants with high capacity utilization

Hallbergmoos/Munich, April 29, 2020. STS Group AG (ISIN: DE000A1TNU68; sts.group), the global system supplier for the automotive and commercial vehicle industry, listed in the Prime Standard of the Frankfurt Stock Exchange, has started to resume the production of its European plants this week. The STS plants in China resumed production already in March and are currently producing again at the same high level prior to the plant closure. The European plants are located in Germany, France and Italy. In mid March, STS Group AG had reacted to the short-term plant closures of automotive manufacturers due to COVID-19 and immediately shut down its production.

STS is adapting the production in the above mentioned plants in constant coordination with its customers. The focus of the restart is, on the one hand, to guarantee the supply chain and on the other, to protect STS employees. The Group has therefore developed measures for ensuring maximum health protection in close cooperation with local employee representatives and in accordance with authorities' knowledge. These are implemented systematically at all STS Group sites.

The short-time work already introduced in mid March, the implementation and utilization of home office opportunities and the examination of government aid programs underline the Group's extensive efforts to ensure the short and long-term success of the company.

"In this extraordinary situation, it is important to act cautiously and to adapt quickly and flexibly to ever-changing conditions. Our measures protect the health of our employees and at the same time ensure that production is resumed," says STS Group AG CEO Andreas Becker.

About STS Group:
STS Group AG,www.sts.group(ISIN:DE000A1TNU68), is a leading system supplier to the automotive industry with a focus on solutions in the acoustics, thermal and structural engineering sectors. It employs more than 2,500 people worldwide and generated revenues of 362.8 mEUR in the financial year 2019. The STS Group ("STS") produces and develops plastic and acoustic components such as solid and flexible vehicle and aerodynamic trim, noise and vibration-damping materials, entire interior and exterior trim systems, as well as lightweight construction and battery components for electric vehicles at its 17 plants and four development centres in France, Italy, Germany, Poland, Mexico, Brazil, China and, in the future, also in the USA. STS is considered as a technology leader in the manufacture of special acoustic products, plastic injection moulding and components made of composite materials (Sheet Molding Compound - SMC). STS has a large global footprint with plants in four 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

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29.04.2020 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.

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