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Sogefi — Regulatory Filings 2017
May 17, 2017
4192_rns_2017-05-17_e7a93330-92c9-4a6d-976b-8518d72c49e1.pdf
Regulatory Filings
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| Informazione Regolamentata n. 0246-20-2017 |
Data/Ora Ricezione 17 Maggio 2017 08:58:52 |
MTA - Star | |
|---|---|---|---|
| Societa' | : | SOGEFI | |
| Identificativo Informazione Regolamentata |
: | 89694 | |
| Nome utilizzatore | : | SOGEFIN02 - ALBRAND | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 17 Maggio 2017 08:58:52 | |
| Data/Ora Inizio Diffusione presunta |
: | 17 Maggio 2017 08:58:53 | |
| Oggetto | : | Sogefi (CIR Group) launches coil spring production in China for passenger cars |
|
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
SOGEFI (CIR GROUP) LAUNCHES COIL SPRING PRODUCTION IN CHINA FOR PASSENGER CARS
From end of 2018 the new suspension plant will be operational in Wujiang, where the company currently manufactures stabilizer bars
Additional annual sales of € 20 million are expected from 2023
Milan, May 17 2017 – Sogefi, the automotive components company of the CIR Group, has announced a project to start coil spring production for passenger cars in China at the end of 2018.
The purpose of the initiative is to meet the increasing demand for coil springs in China, in view of the growth forecasts for the local car market, the gradual replacement of leaf springs and the higher technical standards required by local manufacturers.
"This new investment - said Laurent Hebenstreit, CEO of Sogefi - allows us to complete our offer of suspension components in China. This will create new opportunities for Sogefi's development and profitable growth in the world's largest car market".
A new 8,000 square-metre plant will be built in Wujiang, in the Shanghai area, on the existing industrial site that currently hosts a 15,000 square-metre stabilizer bar factory, which started operating in 2014.
The start of the new production should ensure additional annual sales of € 20 million for the company from 2023. The investment for the new plant amounts to € 8 million.
When the coil spring plant is fully operational, the Wujiang suspension site will generate € 70 million in annual sales and employ more than 300 people.
Sogefi considers environmental protection to be a major responsibility, working in advanced partnership with the Wujiang local authorities in relation to the current business and the new coil spring production plant.
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Sogefi
Sogefi (CIR group), founded in 1980 and listed on the Milan Stock Exchange, is a company which operates in the automotive components sector in three business areas in which it is a world leader: filters, suspension components, and engine air and cooling systems. Present in 23 countries with 41 production plants, Sogefi is partner to the most important car manufacturers worldwide. The Sogefi group is a leader in Europe and the Americas in its core businesses, operating in the original equipment market and the OE and independent aftermarket. Thanks to its commitment to research, Sogefi has been continually improving the technological development of its parts, optimizing their performance in terms of life cycle, effectiveness, size, weight and compatibility with the environment.
In 2016 Sogefi posted revenues of approximately € 1.6 billion (up 5% on 2015), an EBITDA of € 152.7 million (up 32.2%) and net income of € 9.3 million (€ 1.1 million in 2015). For more information visit the website www.sogefigroup.com
Contacts:
Yann Albrand Salvatore Ricco Laura Pennino Tel.: 02 722701 e-mail: [email protected] www.cirgroup.com www.sogefigroup.com
Sogefi Investor Relations CIR Group Communication Department Tel.: +39 02 467501 e-mail: [email protected]