Andritz AG - M&A Activity 2022 | FinancialReports.eu

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Corporate | 23 August 2022 08:45

ANDRITZ acquires Sovema Group

EQS-News: Andritz AG / Key word(s): Miscellaneous

ANDRITZ acquires Sovema Group

23.08.2022 / 08:45 CET/CEST

The issuer is solely responsible for the content of this announcement.

GRAZ, AUGUST 23, 2022. Schuler, member of international technology Group ANDRITZ, has acquired the Italian Sovema Group to become a leading systems supplier of battery cell manufacturing solutions for the automotive industry and other sectors. Together with Sovema, Schuler will develop the capabilities needed to equip gigafactories for the mass production of lithium-ion batteries, whose large-scale availability is essential for the success of eco-friendly e-mobility on the road.

According to estimates, the production capacity provided by the annual output of lithium-ion batteries will increase approximately fivefold worldwide by 2030, compared with 2020. One third of the planned capacity is expected to be produced in Europe. In addition to Germany, there are plans to build new gigafactories in Italy, Spain, France, the UK, Sweden, Finland, Poland, and Hungary.

Based in Villafranca di Verona, Italy, with further sites in the USA and China, Sovema is one of the leading international suppliers of equipment for the production of top-quality battery cells. The company made a name for itself in the automotive sector as well as other industries by building appropriate machines for pilot and laboratory projects, accounting some of the most prominent battery manufacturers worldwide in its customer portfolio. Furthermore, Sovema is the worldwide-only supplier of automated turnkey plants for the mass production of lead-acid batteries. The Sovema Group employs just over 170 people and most recently reported revenue of around 50 million euros.

“With Schuler as owner, we can now combine Sovema’s technological expertise with our know-how in the production of complex lines for the mass manufacturing of parts and components,” states Schuler CEO Domenico Iacovelli. “This gives us the potential to develop Schuler into a turnkey supplier of technology for the core process steps of cell assembly and cell formation for existing or planned gigafactories dedicated to manufacturing lithium-ion battery cells.”

Schuler already offers production lines for the cost-efficient mass manufacturing of both prismatic and cylindrical battery cell housings.

Schuler will be the sole owner of Sovema in the future. Based in Göppingen, Germany, the technology company has systematically expanded its classic product range of highly efficient press lines over the past five years. It is now a leader in the digitalization and networking of forming technology and offers an increasing number of machines in the field of sustainable technologies. In addition to battery case production, this includes lines to produce laminations for electric motors and to manufacture fuel cells and electrolyzers for the hydrogen industry.

More about https://www.schulergroup.com/E-Mobility

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PRESS RELEASE AND PHOTOS AVAILABLE FOR DOWNLOAD

Press release and photos are available for download at andritz.com/news . The photo may be published free of charge if the source is stated: “Photo: ANDRITZ”.

FOR FURTHER INFORMATION, PLEASE CONTACT

Dr. Michael Buchbauer

Head of Corporate Communications

[email protected]

andritz.com

ANDRITZ GROUP

International technology group ANDRITZ offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for a wide range of industries and end markets. ANDRITZ is a global market leader in all four of its business areas – Pulp & Paper, Metals, Hydro, and Separation. Technological leadership, global presence and sustainability are the cornerstones of the group’s strategy, which is focused on long-term profitable growth. The publicly listed group has around 27,100 employees and over 280 locations in more than 40 countries.

ANDRITZ METALS

ANDRITZ Metals is – via the Schuler Group – one of the world’s leading suppliers of technologies, plants and digital solutions in metal forming. The product portfolio also includes automation and software solutions, process know-how, and service. In the metals processing segment, the business area offers innovative and market-leading solutions for the production and processing of flat products, for welding systems and furnaces, as well as services for the metals processing industry.

23.08.2022 CET/CEST This Corporate News was distributed by EQS Group AG. www.eqs.com


Language:	English
Company:	Andritz AG
	Stattegger Straße 18
	8045 Graz
	Austria
Phone:	+43 (0)316 6902-0
Fax:	+43 (0)316 6902-415
E-mail:	[email protected]
Internet:	www.andritz.com
ISIN:	AT0000730007
Indices:	ATX
Listed:	Vienna Stock Exchange (Official Market)
EQS News ID:	1425699