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 plant
Geschrieben am 03-08-2011 |
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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.
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Company Information
03.08.2011
• 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:
Manuel TAVERNE
POLYTEC GROUP
Investor Relations
Tel.+43(0)7221/701-292
manuel.taverne@polytec-group.com
end of announcement euro adhoc
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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
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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.
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