Salem, Virginia — According to state and local development sources, STS Group AG plans to invest $32,000,000.00 to build out 232,000 square feet of new space in Salem. The company plans to occupy the new space at Roanoke Boulevard in Salem, on or about December 1, 2023. According to the company website The STS Group is a stock listed, globally leading supplier of components and systems for the commercial vehicle and automotive industries. The group, which can look back on a tradition and expertise since 1934, employs more than 2,500 people worldwide and achieved a turnover of EUR 401 million in 2018 (provisional and unaudited). Headquartered in Germany, the Group operates a global network in all major markets. STS currently has 17 plants in seven countries on four continents. STS offers its customers a wide range of systems and solutions for vehicle interiors, exterior trim and engine compartments. STS components enhance the vehicle design visually, provide a pleasant sound in the interior and around the vehicle and ensure a significant weight reduction through their lightweight construction. Due to its high vertical integration, STS is able to run the complete production process of each component from the idea to the finished product. STS combines the production technologies of injection molding and hot and compression molding of composite materials (SMC and felt mats). STS manufactures the semi-finished products SMC and felt mats itself and can therefore react flexible to customer-specific requirements.

To learn more about STS Group AG, visit http://www.sts.group/

Company Contact:
Alberto Buniato, Chief Executive Officer
https://www.linkedin.com/in/albertobuniato/
33 (0) 475 69 4545

SOURCE: http://www.intelligence360.io
Copyright (c) 2023 SI360 Inc. All rights reserved.