STS Group AG wins further strategic order to manufacture innovative lightweight components in China
STS Group AG wins further strategic order to manufacture innovative lightweight components in ChinaHallbergmoos/Munich, October 7, 2019. STS Group AG (ISIN: DE000A1TNU68; www.sts.group), the global system supplier for the commercial vehicle and automotive industry, listed in the Prime Standard of the Frankfurt Stock Exchange, announces another strategic order. The Group will produce innovative hybrid doors for a Chinese electric vehicle (Battery Electric Vehicle/BEV) manufacturer and also new STS customer. The order will have an effect on sales starting in the fourth quarter of 2020.
The assignment is at the same time of great strategic importance. The STS Group is once again demonstrating its versatility as well as its ability as an innovation driver and first mover. STS introduces a new concept for passenger car doors exterior panel, combining injection molding and fiber-reinforced composite known as Sheet Molding Compound (SMC) technology. An injection molding outer panel, is glued on a SMC frame and fixed to the door's structure. Through the replacement of metal by the composite material to a large extent, a relevant weight reduction can be achieved without reducing the safety aspects. The lightweight construction makes a significant contribution to sustainable mobility.
Combining two technologies and on-site production very close to the customer once again demonstrates the innovative STS approach as a competent system supplier for the global automotive industry. Already in July, STS reported successes in the future market of China in the field of e-mobility. The Group won two orders for the supply of battery covers for electric vehicle models.
"Our technologies make an important contribution to reducing weight, noise and emissions in the present and future automotive industry. That is why they remain in demand even in a challenging market environment. We are delighted to have been entrusted with this contract in one of the world's most promising markets and are confident that we can further expand our position as an innovative systems supplier," says Andreas Becker, CEO of STS Group AG.
About STS Group:STS Group AG, www.sts.group (ISIN: DE000A1TNU68), is a leading 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 and generated revenue of 401,2 mEUR in the 2018 financial year. At its 17 plants in total in France, Italy, Germany, Poland, Mexico, Brazil and China, the STS Group ("STS") 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 from 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.
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07.10.2019 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: STS Group AG Zeppelinstraße 4 85399 Hallbergmoos
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