mutares AG: Integration of STS Group is progressing
mutares AG (ISIN: DE000A0SMSH2) has signed a purchase agreement to acquire the truck supplying business of Plastic Omnium Group. The completion of the complex transaction is expected to take place end of Q2. The Integration of the two French plants previously acquired from Mecaplast Group is progressing rapidly. Following the approval of the workers' representatives of Plastic Omnium, mutares has signed the purchase agreement to acquire the truck supplying business of Plastic Omnium Group. Closing of the transaction will take place until the end of Q2 2017. The business consists of nine plants in France, China, Germany and Mexico with more than 1,500 employees in total. In 2015, all plants generated a consolidated turnover of EUR 190m with exterior components and modules for truck cabins. All major European truck manufacturers belong to the customer base. The sites are located in very close proximity to their customers.
Combining this business with STS and the two plants of Mecaplast Group, mutares creates a global truck supplier for cabin components with a total turnover of approximately EUR 400m and 2,700 employees in 15 plants on three continents. The integration of the two former Mecaplast plants that generate revenues of EUR 70m with 340 employees is progressing very well. Since the acquisition the number of new RFQs (requests for quotation) has significantly increased reflecting the customers' appreciation of the new STS Group. This trend promises a further organic growth in revenues.
Moreover, mutares works on further add-on acquisitions in the truck supplier industry in order to take a leading role in the consolidation of the market. mutares follows very focusedly the Buy & Build approach, thus driving the sustainable development of the group's portfolio as well as the achievement of mutares' ambitious growth targets.
Company profile of Plastic Omnium Group Plastic Omnium is the world leader in automotive exterior components and modules, automotive fuel systems, and waste container solutions for local authorities and companies. The Group has 33,000 employees across 128 plants, 23 R&D centres and 31 countries worldwide.
Company profile of mutares AG mutares AG, Munich (www.mutares.de), acquires companies, that are being sold in the course of a repositioning process at their owners and that show a clear operational improvement potential. Getting engaged with its own teams, mutares actively supports its portfolio companies to achieve a clear value increase. The focus of the operational work is to ensure sustainable, long-term growth. The shares of mutares AG are listed on the Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: DE000A0SMSH2).
For further information, please contact:
mutares AG Soh-Pih Mariette Nikolai Investor Relations & Corporate Communications Tel. +49 89 9292776-0 Fax +49 89 9292776-22 firstname.lastname@example.org www.mutares.de
08.03.2017 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.deLanguage: English
Company: mutares AG Arnulfstr.19 80335 Munich
Germany Phone: +49 (0)89-9292 776-0 Fax: +49 (0)89-9292 776-22 E-mail: email@example.com Internet: www.mutares.de ISIN: DE000A0SMSH2 WKN: A0SMSH Listed: Regulated Unofficial Market in Berlin, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt End of News DGAP News Service