COINDU | Sustainability Report - 2024

SUSTAINABILITY REPORT 2024 of the Stichter family on the Board of COINDU. Soon after, a new plant was established in Arcos, in the north of Portugal. COINDU reached a critical size, allowing it to become completely independent of Sevex and to act it in its own name vis-à-vis customers. Only eight years after his father’s death, Günter Stichter Junior died and another shareholder change happened within the Stichter fam- ily. In the same year, for the first time, COINDU managed to directly source to Audi. Especially due to this development, the following years showed further continuous growth, with EUR 100 Mio. barrier being broken in 2008. In the following years, COINDU managed to directly negotiate as first-tier supplier for BMW (2011) and VW (2012). In the same time period, the new development centres in Ingolstadt (for Audi and BMW) and in Braunschweig (for VW) were opened. In 2013, Maximilian Stichter decided to buy out his whole family, reuniting the majority of the shares his grandfather once held. In the same year, the government structure of COINDU was changed to the so-called “German” or dualistic model, with the implementation 13