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 [1] https://www.schulergroup.com/E-Mobility

– End –

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

Dr. Michael Buchbauer
Head of Corporate Communications

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 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.


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

End of News EQS News Service

1425699  23.08.2022 CET/CEST


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