Polytec Group (Hörsching / Austria; www.polytec-group.com) plans to acquire automotive specialist ISE Intex (Morsbach / Germany) out of receivership, if anti-trust authorities, the company's OEM customers and the unions approve. Closing of the deal, for which no price tag has been announced, is expected in this year's third quarter. Insolvency proceedings for ISE Intex were opened in February and a reorganisation plan drawn up – see Plasteurope.com Web of 07.02.2007. The company's four German production sites are planned to be condensed into three in the long term; however, all 1,000 staff are to be retained.

The German automotive supplier, formerly known as IBS Brocke, develops and produces thermoplastic parts and modules. For 2006 it reported sales of around EUR 100m. The portfolio includes pillars (31%), engine parts (17%), trunk trims and door panels (18%) and window frames (13%). Major customers are the German OEMs BMW (34%), Mercedes Benz (25%), Volkswagen (21%) and the German arm of GM (7%).

Polytec acquired the moulding compounds business of Menzolit-Fibron (Bretten / Germany; www.menzolit-fibron.de) on 1 April 2007 from Swedish injection moulder Plastal (Küngälv; www.plastal.com) – see Plasteurope.com Web of 10.04.2007. In the past, the Austrian company competed with Intex in engine parts, trunk trims and door panels. With the takeover it will be able to expand its business into pillars and window frames. Following the partial consolidation of the two acquisitions, Polytec's annual sales will rise from EUR 525m in 2006 to around EUR 750m in 2007.

According to recent Austrian press reports, Polytec is in negotiations with private equity investors about the acquisition of another similar sized automotive supplier. Market speculation centres on German players such as injection moulder Peguform and PU converters Grammer and Pelzer.