Polytec Holding AG

EANS-Adhoc: Polytec Holding AG
POLYTEC GROUP To Expand Its Core Competences / Acquisition of PPI Plastic Products Innovation GmbH & Co KG
Investment in the further expansion of the company´s plants

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Company Information


•       Acquisition of PPI Plastic Products Innovation GmbH & Co KG 
•       Investment in the further expansion of the company´s plants

Against the backdrop of a persistently positive business development driven by
the favorable economic situation of the automotive industry and the new orders
reiceived, in both the automotive and non-automotive business area, capacities
in the Components (injection molding) and Car Styling (genuine accessories and
small series) segment have to be expanded. Such capacity adjustments will be
realized by further developing and expanding the current Components plant in
Lohne (Germany) and the Car Styling plant in Hörsching (Austria). Furthermore,
the POLYTEC GROUP will acquire the injection molding plant PPI Plastic Products
Innovation GbmH & Co KG based in Ebensee (Austria). The total investment volume
will amount to EUR 15 million.

Acquisition of PPI Plastic Products Innovation Gmbh & Co KG (PPI)

In the Components business segment, Polytec currently operates three
injection-molding plants in Germany (Lohne, Wolmirstedt and Idstein). Following
an in-depth evaluation of the possibilities to guarantee the necessary
capacities for the Components business with existing plants, the Management
Board has decided to acquire the PPI injection-molding plant in Ebensee
(Austria) instead of further expanding the existing business site in Wolmirstedt
(Germany). Owing to its geographic proximity to the most important automotive
hubs such as Ingolstadt, Györ, Bratislava, Munich and the Austrian engine plants
of BMW and Opel, the PPI plant represents a sound addition to the production
network of Polytec´s Components business. Furthermore, the PPI, which in the
past had already functioned as a partner plant of the Car Styling division for a
number of injection-molding projects, will increasingly carry out projects in
the area of original equipment and small series on behalf of the Car Styling
segment. Additional product groups produced by the PPI plant include industrial
products and garden furniture made of plastics. 

For the 2011 business year, the company expects to achieve total sales of
roughly EUR 26 million. Over the next few years, sales will be considerably
increased based on new customer orders in the automotive business area, which
have already been nominated to the company. The purchasing price for 100% of the
shares will amount to approximately EUR 1.5 million (carrying amount of the
equity of the company as of July 31, 2011). Besides, PPI´s net financial
liabilities totaling EUR 8-9 million will also be passed on to Polytec as of
August 31, 2001 (closing). Therefore, the total consideration for the
acquisition of the company will amount to EUR 10 million. Huemer Invest GmbH is
the current owner of the company. 

Investments in the further expansion of the business locations in Lohne
(Germany) and Hörsching (Austria)

The plant  in Lohne will be further expanded and developed into the leading
operation of the Components segment to allow the company to execute the
additional customer orders that have already been placed in the non-automotive
area (consumer electronics including JIS supplies) and to tackle the constantly
increasing production volumes - especially with regard to the cylinder head
covers. Furthermore, the Car Styling plant in Hörsching will be further
developed to meet future capacity requirements with investments in the expansion
of its production, storage and logistics facilities. The total investment volume
for both business locations will amount to EUR 5 million. 

The planned investment in the plants in Lohne and Hörsching as well as the
acquisition of the PPI plant in Ebensee will contribute to safeguarding the
production capacities of the Polytec Group over the long term. In addition,
existing core competences will be further expanded and the diversification of
business activities across segments will be further enhanced through additional
non-automotive activities.

Further inquiry note:
POLYTEC GROUP           
Investor Relations

end of announcement                               euro adhoc 

issuer:      Polytec Holding AG
             Linzer Straße 50
             A-4063 Hörsching
phone:       +43 (0) 7221 / 701-0
FAX:         +43 (0) 7221 / 701-0
mail:     investor.relations@polytec-group.com
WWW:      www.polytec-group.com
sector:      Industrial Components
ISIN:        AT0000A00XX9
indexes:     ATX Prime
stockmarkets: official market: Wien 
language:   English

Weitere Meldungen: Polytec Holding AG

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