08.06.2018 | Austria

S&T Group returns to 100% holdings in subsidiary S&T Romania srl to

Linz, 8. June 2018. For strategic reasons, S&T AG (www.snt.at) has reacquired a 30% stake held by its partner QBS in S&T Romania srl – an S&T AG subsidiary headquartered in Bucharest. This move gives S&T a 100% holding in S&T Romania srl.

The productive working relationship between S&T AG and QBS is now to be leveraged to intensively pursue the securing of further commissions from the public sector in Romania.

“We wish to thank Octav Nicolau, owner and President of QBS, for his efforts over the past few years. These helped produce the successes jointly achieved by his company and by S&T. We will pursue this working relationship in the years to come, as it enables us to serve our customers in Romania, and to thus further develop our standing in this market,” states Peter Sturz, S&T’s COO. “The repurchasing of the shares in our Romanian subsidiary forms part of the S&T Group’s ambitious plans for the years to come. This move had been planned for some time.“

Nicoleta Macovei has been S&T Romania srl’s general manager since March 2018. Her brief is the step-by-step development of this company into one of Romania’s leading integrators of IT systems.

S&T AG (www.snt.at) heads a technology group that employs some 3,900 persons and that operates in more than 25 countries around the world. S&T AG is listed on the Frankfurt Stock Exchange (ISIN AT0000A0E9W5, WKN A0X9EJ, SANT). S&T forms part of the Exchange's TecDAX index of high techs. S&T is a leading supplier in Central and Eastern Europe of IT systems and of the services and solutions comprised in them. S&T's taking in 2016 of a stake in Kontron AG – one of the leaders on the world's market for embedded computers – has enhanced its portfolio of proprietary technologies used in the fields of appliances, cloud security, software and smart energy. This move has made S&T one of the leading suppliers on the international markets for Industry 4.0 and IoT (Internet of Things) technologies.