Autoneum has sold its production facility in Betim, Brazil, to automotive supplier STS Group. A corresponding agreement was signed today. The sale is a necessary move for adapting the Company’s South American production capacity to long-term market demand.
Due to ongoing economic weakness Autoneum has for several years been confronted with in the South American market generally and the Brazilian automobile market in particular, the Company has sold its production facility in Betim (State of Minas Gerais), Brazil, to automotive supplier STS. Adjustment of production capacity in South America is part of the Company’s consistent strategy implementation which is oriented toward profitable growth. In closing the deal in the second half of 2017, STS is taking over the plant with its 90 employees and will continue to supply the existing customer base.
Autoneum continues manufacturing multifunctional components for acoustic and thermal management for international vehicle manufacturers at its three remaining Brazilian plants in Gravataí, São Paulo and Taubaté as well as in Córdoba, Argentina.
STS is a global automotive supplier that develops solutions for acoustic and thermal insulation and manufactures interior and exterior components made of plastics or composite material. Following the integration of former Autoneum Italy, Autoneum Betim and the truck supplying businesses of Mecaplast and Plastic Omnium, the group will operate 16 plants on four continents generating revenues of EUR 400 million with 2 700 employees. STS’s headquarters is located in Hallbergmoos near Munich, Germany.