05 September 2008
05 September 2008
Polytec Holding has acquired the Peguform Group, one of the leading European Automotive Suppliers, from Cerberus Capital Management L.P.
With combined sales of €2.2bn, Polytec Group moves into the top 100 suppliers to the automotive industry.
Polytec Group, based in Hörsching/Linz (Austria), is one of the well-known European suppliers to the automotive and commercial vehicle industry. With sales of €800m Eur 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 €1.4bn with its 7,000 employees. 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 (10%).
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.
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