Lumipol is a family business based in Eindhoven that is active in, among other things, power systems, i.e. drivelines. Lumipol also holds a minority interest in the Indian company SASMOS, which focuses on the production of wiring harnesses and electrical components for, among others, the aviation industry. SASMOS's customer base also includes companies active in the defence sector of NATO countries and their allies, and India. Neither SASMOS nor Lumipol supplies – partly in accordance with international legislation and sanctions regimes – to Russia or China. No international sanctions currently apply to Israel.

Lumipol follows current geopolitical relations with great attention. The situation in Israel and Gaza is of serious concern to us. Partly for that reason, Lumipol already began scaling down its minority interest in SASMOS more than a year ago. We recognise that legal guidelines are only one side of the consideration; for Lumipol, ethical considerations weigh at least as heavily.

As the management of Lumipol, we take our responsibility to lead the organisation based on the values we uphold as a family and as a company. In that light, we are having the allegations made in the article of 22 May carefully investigated further, together with a number of independent specialists. Although Lumipol does not have decisive control within SASMOS, we do feel responsible for obtaining clarity about the origin and content of these allegations.

As soon as there is more clarity, we will communicate about this through a follow-up statement, which will also be published on our website.