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Polytec Holding AG

EANS-Adhoc: Polytec Holding AG
POLYTEC HOLDING AG SELLS POLYTEC COMPOSITES ITALIA TO INDUSTRIE METALLVAKUUM RANGER S.P.A.

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
29.12.2010
Today POLYTEC HOLDING AG signed an agreement to sell 100% of the 
shares of POLYTEC Composites Italia (PCI) to Industrie Metallvakuum 
Ranger S.p.a. (IMR).
IMR produces composites, injection moulded parts and furthermore it 
builds also SMC- and injection moulding tools mainly oriented to the 
Italian automotive market. Due to its strong local footprint, IMR 
will have the ability to gain synergies by consolidating the SMC 
production for the local market at one site.
For POLYTEC GROUP, the strong boundary of the Italian market, the 
companies low synergy potential within the group as well as its weak 
long term perspective due to changes in technology at key products 
were crucial for the decision of the management, to sell the company 
for an attractive valuation due to the local relevance of PCI to IMR.
The transaction has the total acceptance of the main customer of PCI 
(Fiat/Iveco).
Earnings situation of POLYTEC COMPOSITES Italia
in mill.        2009    2010E
Sales   17,2    32,5
EBIT    -1,7    0,4
In line with this transaction the parties agree to maintain certain 
cooperation concerning the supply of raw material and moulds.
end of announcement                               euro adhoc

Further inquiry note:

Manuel TAVERNE
POLYTEC GROUP
Investor Relations
Tel.+43(0)7221/701-292
manuel.taverne@polytec-group.com

Branche: Industrial Components
ISIN: AT0000A00XX9
WKN: A0CA1R
Index: ATX Prime
Börsen: Wien / official market

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