STS Group AG opens US production site in Salem in the US state of Virginia

STS Group AG opens US production site in Salem in the US state of Virginia

• First prototypes still coming off the production line in 2023
• Series production ramps up in January 2024
• 119 new jobs in the region
• Expansion of North American business important milestone for STS Group

Hagen, March 10, 2023 - STS Group AG (ISIN: DE000A1TNU68), a global systems supplier for the automotive industry listed on the General Standard of the Frankfurt Stock Exchange, is opening its first production site in the United States in the former General Electric plant in the city of Salem in the US state of Virginia. The Company is thus creating 119 new jobs in the region. The first prototypes will roll off the production line before the end of 2023, with series production ramping up in January 2024.

The plant will be operated as a subsidiary of STS Group North America and will strengthen the region's position as a center for automotive manufacturing. The new plant will supply Volvo Trucks' truck assembly operations in Pulaski County as well as other truck and automotive plants throughout the Midwest and Southeast.

Alberto Buniato, CEO of STS Group AG: "I am very pleased that we have brought this project to its final stage with the local support of Adler Pelzer. Overall, the expansion of the North American business is and remains highly relevant for STS Group. Salem is an ideal location for STS Group to expand its footprint in the U.S., to serve existing customers locally and to broaden its customer portfolio. With the new production site, our project is entering its final phase. This will enable us to generate further growth in the region. We are not using a new building for this, but are rededicating an existing plant. This saves time and money, ensures easier control and better stability of the start-up."

“The presence on the US market is an important pillar of our growth strategy, after all the US market, as the second largest truck market worldwide offers sizeable potential”, stated Pietro Lardini, member of the Supervisory Board of STS Group and CEO of Adler Pelzer Group the controlling shareholder of STS Group AG.

 About STS Group:

STS Group AG, www.sts.group (ISIN: DE000A1TNU68), is a leading system supplier to the automotive industry. It employs more than 1,500 people worldwide and generated sales of 242.0 mEUR in the financial year 2021. STS Group (“STS”) produces and develops at its twelve plants and three development centers in France, Germany, Mexico, China and, in the future, also in the USA plastic injection moulding and components made of composite materials (Sheet Molding Compound – SMC), such as solid and flexible vehicle and aerodynamic trim, entire interior systems, as well as lightweight construction and battery components for electric vehicles. STS is considered a technology leader in the manufacture of plastic injection moulding and components made of composite materials. STS has a large global footprint with plants on three continents. The customer portfolio comprises leading international manufacturers of commercial vehicles, passenger cars and electric vehicles.

STS Group AG
Investor Relations
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58099 Hagen
ir@sts.group
www.sts.group