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EQS-News: Sto SE & Co. KGaA
/ Key word(s): Investment
P R E S S R E L E A S E
Stühlingen/Germany, 14 March 2024 – Sto SE & Co. KGaA, a major international manufacturer of products and systems for building coatings, is taking over its New Zealand distribution partner Stoanz Ltd, Wellington, on 1 April 2024. The purchase agreement was signed on 14 March 2024. Stoanz has been Sto's exclusive distribution partner in New Zealand since 1996 and in recent years has mainly generated turnover with facade systems. In addition to the three locations – the head office in Wellington and the two warehouse locations in Auckland and Christchurch – Sto is taking on 23 employees. Stoanz focuses on medium to high-end residential and commercial construction and supplies both new-build and renovation projects with customised facade systems. Due to the very strict building regulations in New Zealand, Stoanz has developed its own solutions with predominantly organic facade coatings. The systems are inspected and certified annually by the Building Research Association of New Zealand (BRANZ). Stoanz now considers itself the market leader in the field of high-quality facade systems in New Zealand. "We are delighted that Stoanz will now become a wholly owned Sto subsidiary. The takeover supports our strategic goal of further expanding Sto's international market presence," emphasises Rainer Hüttenberger, Chief Executive Officer of STO Management SE, which manages the business of Sto SE & Co. KGaA as the personally liable partner.
Sto SE & Co. KGaA is a major international manufacturer of products and systems for building coatings. The company is a leader in the business field of external wall insulation systems. Sto's core product range also includes high-quality facade elements, as well as renders, plasters, and paints for building exteriors and interiors alike. Another focus is placed on concrete repair, floor coatings, acoustic systems, and rainscreen cladding systems. Contact person at Sto SE & Co. KGaA: Contact to the media:
14.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Sto SE & Co. KGaA |
| Ehrenbachstraße 1 | |
| 79780 Stühlingen | |
| Germany | |
| Phone: | +49 (0)7744 57-0 |
| Fax: | +49 (0)7744 57-2178 |
| E-mail: | |
| Internet: | |
| ISIN: | DE0007274136 |
| WKN: | 727413 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange |
| EQS News ID: | 1858943 |
| End of News | EQS News Service |
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1858943 14.03.2024 CET/CEST
