MILAN, May 30 (Class Editori) — STS Group AG, a global systems supplier to the automotive industry listed on the Frankfurt Stock Exchange, and its major shareholder, Adler Pelzer Group (APG), announced plans to expand their presence in China. The companies signed a memorandum of understanding with the government of Taixing City, under the sponsorship of CHIC, the Sino-Italy Foundation.
STS Group AG already has a strong presence in China with three plants and an R&D center. The future location in Taixing will promote the proximity to customers of a smart manufacturing cluster and new materials industry, cut costs and protect the environment thanks to Taixing City's development efforts.
"China is an important target market for us and contributes significantly to the profits of STS Group AG," Alberto Buniato, CEO of STS, explained. "With the new localization plans, not only will we expand our existing presence, but we will also increase the synergy potential to be offered by the entire Group. Our further expansion in China will be the first milestone in our post-merger organic growth roadmap, which will lay the foundation for accelerated revenue and profit growth in the coming years".
Once the new STS plant in Taixing will be operational, it will produce components for its customers using the latest innovations and composite material technologies for interior and exterior rigid finishes, including machining, fully automated painting and submodule pre-assembly for easily assembly on cars or trucks.
APG's acquisition of STS Group AG last year was well received by light and commercial vehicle manufacturers and further strengthened STS Group AG's development plans in China.
(Source:Class Editori)
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