Italian STIMA SYSTEM acquired by TÜV SÜD

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TUEV SUED

22 Nov, 2011, 13:34 GMT

MUNICH, MILAN and GENOA, Italy, November 22, 2011 /PRNewswire/ --

TÜV SÜD Builds Up Mobility Business in Italy

TÜV SÜD's acquisition of the Italian automotive service provider STIMA SYSTEM will enable the company to continue the expansion of its automotive business in Europe. Genoa-based STIMA SYSTEM has carved out a strong presence on the service market for car dealerships, manufacturers, car hire companies, vehicle fleets and insurance.

For TÜV SÜD, Italy is among Europe's most important mobility markets. "The acquisition of STIMA SYSTEM is a key stepping-stone in TÜV SÜD's European strategy and further consolidates our position as an international provider of services for car dealerships, manufacturers and fleets", says Wolfgang Eichler, Member of the Management Board of TÜV SÜD Auto Service. STIMA SYSTEM holds a strong market position among these target groups with its STIMA brand; its operations in Italy include a close-knit national network of expert appraisers. By acquiring the company, annual sales revenue of which most recently totalled around EUR 2.5 million, TÜV SÜD is persistently driving ahead its strategy of internationalization in the mobility sector. After acquisition by TÜV SÜD the STIMA brand will continue to operate on the market. STIMA SYSTEM's previous managing director, Roberto Marino, who will retain connections with the company in the capacity of consultant, will focus on further expanding its market position within Italy.

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Editor:

    Frank Volk                       Tel. +49(0)89-57-91-16-67
 
    TÜV SÜD AG                       Fax +49(0)89-57-91-22-69
 
    Corporate Communications         E-mail frank.volk@tuev-sued.de
 
    Westendstrasse 199, 80686 Munich Internet http://www.tuev-sued.de

[i] TÜV SÜD Auto Service GmbH, a TÜV SÜD company, offers services from roadworthiness and exhaust emission testing to driving licence tests. Services also include expert damage and value assessment as well as used car certificates and vehicle management. With approx. 300 service centres throughout southern Germany, TÜV SÜD Auto Service GmbH supports about 10,000 private and business customers every day.

TÜV SÜD is a leading international service organization catering to the strategic business segments INDUSTRY, MOBILITY and CERTIFICATION. Over 16,000 employees are represented at more than 600 locations throughout the world. Optimizing technology, systems and know-how, the interdisciplinary specialist teams act as process partners to strengthen their customers' competitiveness.