The planned sale by Voestalpine (Linz / Austria; www.voestalpine.com) of Voestalpine Polynorm Plastics (Roosendaal / Netherlands; www.polynorm.com) to Inteva Products (European headquarters: Inteva Products Europe, Wuppertal / Germany; www.intevaproducts.com) – see Plasteurope.com of 12.01.2009 – has fallen through, at least for the present. Although the purchase agreement was signed at the end of November 2008, Inteva has exercised its right to withdraw before the official closing of the transaction.

Inteva says its decision is due to the sharp downturn at the end of 2008 in the commercial vehicle industry – the main sector served by Voestalpine’s plastics operations. The subsequent production cut-backs are thought to have resulted in a significant earnings decline, which Inteva apparently took as a reason to “renegotiate the terms of the sale” in a bid to knock down the price. According to Voestalpine “agreement could not be reached due to sharply divergent viewpoints”. The company said that it is now examining all options, including looking for a new buyer or retaining the three sites.

Polynorm Plastics comprises three companies – Polynorm van Niftrik and Polynorm Plastics in the Netherlands and Polynorm Plastics in the UK – which produce bumpers, components for dashboards and a range of structural and other components.