DGAP-News

mutares AG: Integration of STS Group is progressing

DGAP-News: mutares AG / Key word(s): Expansion/Takeover mutares AG: Integration of STS Group is progressing 08.03.2017 / 08:35 The issuer is solely responsible for the content of this announcement. 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.