COINDU | Sustainability Report 2023

SUSTAINABILITY REPORT 2023 near the Arcos de Valdevez City. In January 2001, the new unit began its production. In 2004, again due to market needs, COINDU began the construction of a new manufacturing unit in Romania. With its opening in 2005, COINDU seeks to expand and internationalize its business. During 2012, COINDU have launched 2 development centers at Ger- many, one in Braunschweig and another in Ingolstadt. However, cur- rently none of these development centres have activity anymore. Now, each COINDU plant have the responsibility to perform the development (when it exists) of their projects that are going to be industrialized. In 2015, COINDU continued its internationalization strategy, opening a new plant in Mexico. After more than 30 years of Group History fully dedicated to the as- sembly of seat covers for the automotive OEM, COINDU has started to develop a strategy around the material competence with the acqui- sition of HEWA Leder GmbH in 2016. HEWA Leder is a family owned Tannery Company founded in 1984 and which have generated, in 2016, with 170 employees at their two facilities (Bavaria and Saxony) a turnover of EUR 29 M per year. At the end of 2018, the process of acquisition of COINDU and Hewa Leder in 100% of the equity was initiated by Richina Group. Richina Group is an international investment group with a New Zealand 11