Corporate | 25 September 2015 18:51
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DGAP-News: mutares AG / Key word(s): Expansion/Investment
STS Acoustics, a portfolio company of mutares AG (ISIN: DE000A0SMSH2) developing and producing acoustic components for the automotive industry continues its successful repositioning by setting up a new site in Poland. STS Acoustics develops and produces innovative solutions for acoustic and thermal insulation in the motor and passenger compartment of vehicles and operates out of three sites in Italy. As one of the leading providers, STS supplies well-known customers such as Daimler, MAN, Scania and Volvo in the truck sector as well as Fiat, Alfa-Romeo, Jeep and Chrysler in the passenger car segment. The luxury car manufacturers Ferrari and Maserati are also among STS’s customers. The company has been acquired in July 2013 from Swiss autoneum group. In 2014, STS generated revenues of EUR 116m and still shows significant growth potential. In the first half of 2015, revenues could already be increased by 7% compared to previous year. Following the successful turnaround, STS shows a solid profitability and wants to use the regained trust by its customers to increase its competitiveness for further expansion. As a consequence STS decided to open a production site in Poland. The selection of the location is in line with the requests of STS’s customers. STS has already founded the Polish company STS Poland Sp.zo.o. and is now building the production site that will be put into operation in the second half of 2016. The new site requires an investment in the single-digit million range. In order to benefit from attractive opportunities as they arise, mutares AG is reviewing financing options through the capital market. In addition to the increased financial flexibility, the company and its major shareholders aim to increase the free float as well as the trading volume of the mutares stock. 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 traded in the Open Market of the Frankfurt Stock Exchange (Entry Standard) under the symbol MUX (ISIN: DE000A0SMSH2). For further information, please contact:
mutares AG
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