Corporate | 28 September 2016 09:17
mutares plans to grow its automotive business
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DGAP-News: mutares AG / Key word(s): Expansion/Takeover
mutares (ISIN: DE000A0SMSH2) has made an irrevocable offer to acquire two French plants of the Mecaplast Group. The two plants generate revenues of EUR 70m by producing interior and exterior parts for trucks. The acquisition would be a perfect add-on for STS, a portfolio company of mutares. The two profitable plants of the Mecaplast Group, based in Izernore and Précigné, France, generate revenues of EUR 70m with 340 employees. The order backlog of EUR 600m is anticipated to secure the full utilization for many years. Both plants are very closely located to their customers, thus further broaden the customer base of STS. The production of interior and exterior parts for trucks perfectly complements the product portfolio of STS. STS, a portfolio company of mutares, is a leading provider of innovative solutions for acoustic and thermal insulation supplying almost all European truck manufacturers out of three sites in Italy. The company generated revenues of EUR 135m in 2015 and will start production in the newly established plant in Poland in Q4-2016, which will already be almost fully utilized due to two major contracts. mutares plans to acquire further add-ons to strengthen the strategic positioning of STS. The irrevocable offer is being studied by Mecaplast and is submitted to the workers’ representatives of the two plants for their position. Company profile of Mecaplast Mecaplast Group, a European leader in automotive equipment, develops, designs and manufactures parts and complete systems for the vehicle body and engine. Located in 18 countries, it reports revenues of more than EUR 700m in 2015 and employs 6.000 people. 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
2016-09-28 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | 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: | ir@mutares.de | |
| Internet: | www.mutares.de | |
| ISIN: | DE000A0SMSH2 | |
| WKN: | A0SMSH | |
| Listed: | Regulated Unofficial Market in Berlin, Stuttgart, Tradegate Exchange; Open Market (Entry Standard) in Frankfurt | |
| End of News | DGAP News Service |