The veil of suspense has now been lifted: On 1 October, Peguform GmbH & Co KG (HQ: D-79261 Bötzingen; www.peguform.de) acquired the automotive activities of Mitras Industries Holding GmbH (D-92637 Weiden; www.mitras.com) in Germany and the Czech Republic (see Plasteurope.com 18, 2001). The subsidiary of Venture Industries (Michigan / USA) said the Mitras acquisition is a further step in a European growth strategy aimed at strengthening its position in thermosetting resins as well as thermoplastic composites for automotive applications.

Venture Industries took a first significant step towards expanding its thermoset activities in 2000 by linking up with French producer Matra in a joint venture called Matra Venture Composites. In expanding European activities, synergies with the newly founded VEAS Venture Expert Automotive Systems in Barcelona in front-end bumper assemblies are to be exploited actively in future.

Peguform plans to continue Mitras´ operations at Germany´s Rastatt and Weiden as well as Chodova Plana in the Czech Republic, along with its business in thermoset components for automotive interiors and exteriors. Cooperation with the French business segments is designed to facilitate expansion of overall activities. With the takeover, Peguform / Venture´s workforce expands by 940. The three Mitras Automotive sites had total sales of EUR 60m in 2000. Venture, which employs 16,500, had sales of USD 2.4 bn. The group produces plastic components for automotives at 60 locations for Daimler-Chrysler, General Motors, VW, Renault, PSA, Ford-Volvo, BMW and Porsche, along with leading Japanese manufacturers.