STS Group AG successfully completes sale of the Acoustics division
DGAP-News: STS Group AG
/ Key word(s): Disposal
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:
|Company:||STS Group AG|
|Phone:||+49 (0)811 124494 0|
|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|