STS Group AG, a systems provider to the automotive business registered in the General Standard of the FSE, along with its key stakeholder Adler Pelzer Group (APG) has declared its plans to extend their footprint in China.
As per reports, the firms along with the Taixing City government have inked a Memorandum of Understanding (MoU), under the support of CHIC, the Sino-Italy Foundation.
Speculations have it that the STS Group already has a well-established presence in China along with a research development centre and three plants. The Group is a specialist for the commercial vehicle market that is both an international distributer and has a regional engineering center in the People’s Republic of China, world’s biggest growth market for commercial automobiles.
Reportedly, the takeover of STS Group by APG, the previous year, was welcomed with by Commercial Trucks and Light Vehicles producers and further strengthens the expansion plans of STS Group in China.
Not to mention, the latest future location in Taixing will bring the idea of a convenient location near to its customers with advantages of the proximity of new material manufacturing and group of intelligent manufacturing.
Furthermore, it will also protect the environment and bring cost saving with the assistance of Taixing City development actions.
Once in operation, the latest STS plant in Taixing will produce parts for the clients by utilizing the latest technology and innovations of composite material for exterior and interior hard trims, such as fully automated painting, machining, and pre-assembly of submodule for easy assembly to trucks and cars.
Alberto Buniato, Chief Executive Officer at STS Group AG stated that China is a core market for the firm and contributes majorly to the revenue of the group.
Alberto added that the new location plan will help in expanding footprint and uplift synergy potential.
Source Credits: - https://uk.sports.yahoo.com/news/sts-group-ag-plans-further-053015886.html