The Austrian group Polytec Kunststofftechnik (Kiesstr. 12, A-4614 Marchtrenk) is buying Holden Hydroman (Porthouse Industrial Estate, Bromyard GB-Herefordshire HR7 4NS) for GBP 3.7m cash from the engineering group United Industries. This is the first move by Polytec into the UK. The company, which specialises in automotive components particularly in PU, operates several plants in Austria and Germany. Its subsidiaries include f/o/r Kunststofftechnik GmbH (A-4063 Hörsching) which specialises in RIM, RRIM and painted automotive components in PU, the rotomoulder Polytec Toroform (A-8443 Gleinstätten) which manufactures containers and technical parts in PE, and machinery supplier Spritztechnik EMC GmbH (A-4614 Marchtrenk). Its German subsidiaries are Thelen Kunststofftechnik GmbH (PO Box 700246, D-44882 Bochum), and Rentrop Kunststofftechnik (Flugplatzstr. 3, D-29693 Hodenhagen), a technical injection moulder acquired at the beginning of 1996.

Holden Hydroman is strongly polyurethane oriented with the emphasis on smaller run parts for specialist vehicles, so there is a natural synergy with the Polytec group. The company also has developed blow moulding skills which will be of interest to the new owner which is keen to develop this area.

Holden Hydroman was bought from the BBA Group by United Industries, in 1994. However, given the level of consolidation and restructuring which has been taking place in the European plastic automotive components industry, the loss-making subsidiary was finding it increasingly difficult to compete internationally, so the decision was taken to sell it to a larger automotive-based operation. The most recent turnover figure for Holden Hydroman puts sales at GBP 15m with around 25% generated overseas.