Sarna Polymer Holding (Sarnen / Switzerland; www.sarna.com) has taken further steps towards divesting its automotive business. Two deals were sealed recently with private equity investors, nearly completing the group´s withdrawal from the market. Financial details were not disclosed, but Sarna said the selling prices were “within the expected range.” Only UK-based Sarnatech BNL remains to be sold. All the divested businesses will continue to operate under their current structure, and employees will be retained.

Sarnamotive Amerika, including six US sites and one Mexican site, was sold to BWAS Holdings, an affiliate of KPS Special Situations Fund II (New York City / USA) for an undisclosed sum. The private equity group said it will invest in new equipment and a plant expansion in Michigan. Sarnamotive Amerika employs around 1,300 employees, and reported sales of CHF 99m (EUR 64m) in the first half of 2005.

Closer to home, Sarna, which is merging with compatriot roofing membranes manufacturer Sika (Baar / Switzerland; www.sika.com) – see PIE 19, 2005 –, is selling subsidiaries Sarnamotive Schenk in Germany and Sarnamotive Bohemia in the Czech Republic to German private equity fund Argantis. These companies, which generated sales of CHF 130m (EUR 84m) in 2004, also will continue to operate – with all 490 employees – at the existing production sites.