POLYTEC HOLDING AG acquires PEGUFORM GROUP, one of the leading European Automotive Suppliers, from CERBERUS Capital Management L.P. With combined sales of 2.2 billion EUR, POLYTEC GROUP advances to the TOP 100 Suppliers of the Automotive Industry.
POLYTEC GROUP, based in Hörsching/Linz (Austria), is one of the
well-known European suppliers of the automotive- and commercial vehicle
industry. With sales of 800 mill EUR (outlook 2008) and a total of 6,500
employees, the company produces and assembles on 29 sites in Europe,
North America and South Africa. The core products are door panels,
headliners, engine parts and exterior parts for passenger cars, as well
as composites parts (SMC) for commercial vehicles and passenger cars.
The main customers are BMW (26%), Mercedes (12%), VW (7%).
PEGUFORM GROUP, based in Bötzingen (Germany), is one of the leading
European Supplier of systems and modules for the interior and exterior
of passenger cars. In the business year 2007 the company achieved sales
of 1.4 billion EUR with its 7,000 employees, a total. The group’s main
products are bumper systems and front-end modules as well as cockpits
and door panels. The company produces and assembles on 18 sites in
Europe, Brazil and Mexico and runs 3 joint ventures in Spain, Portugal
and China. The core customers are: Seat (22%), Audi (20%), VW (20%), BMW
PEGUFORM GROUP is one of the leading producers of bumper systems and
front-end modules as well as door panels in the European market.
The acquisition and combination of PEGUFROM GROUP with POLYTEC GROUP
is, with its new sites in Mexico and Brazil, as well as the joint
ventures in China, Portugal and Spain, an important step to a global
positioning of the group. Also the significance to important customers
increased and the market position with respects to core products
improved. As a result of the acquisition POLYTEC GROUP advances to the
TOP 100 suppliers of the automotive industry worldwide (approx. position
60) with combined annual sales of 2.2 billion EUR.
Wide positioning within the European Automotive industry
Gaining a significant market position as supplier of door panels to the German market
Gaining a significant market position as supplier of bumper systems and front-end modules to German and Spanish market
Strengthen the position as a European producer of composite parts to the automotive and commercial vehicle industry
The purchase price, which is agreed not to disclosed, will be
financed with cash reserves and the existing credit lines. A capital
increase is not necessary and from today’s view also not planned.
For the closing of the acquisition, which is expected for the end of
September/beginning of October 2008, the consent of antitrust
authorities is required.