POLYTEC
Acquisition of Peguform completed / Combined group sales will exceed EUR 1 bn in 2008
Polytec Holding (Hörsching / Austria; www.polytec-group.com) has paid private equity company Cerberus (New York / USA; www.cerberuscapital.com) EUR 218.5m to acquire full ownership of automotive supplier Peguform (Bötzingen / Germany; www.peguform.de) – see Plasteurope.com of 02.09.2008.
With the inclusion of Peguform, the Polytec Group will have combined annual sales of around EUR 2.2 bn, putting it at about number 60 in the rankings of major automotive suppliers. Peguform, with sales in 2007 of EUR 1.4 bn and EBITDA of EUR 122m, is to be consolidated from the fourth quarter of 2008. For 2008, the German company should contribute around EUR 300m to Polytec sales, pushing the total forward to more than EUR 1.1 bn, according to a forecast.
Exclusive of Peguform, the Austrian plastics group said it expects to be able to meet the forecast given with the publication of H1 2008 results, despite the "currently very difficult market environment." The aim is to achieve sales in 2008 of EUR 800m with an EBITDA margin of 8%.
With the inclusion of Peguform, the Polytec Group will have combined annual sales of around EUR 2.2 bn, putting it at about number 60 in the rankings of major automotive suppliers. Peguform, with sales in 2007 of EUR 1.4 bn and EBITDA of EUR 122m, is to be consolidated from the fourth quarter of 2008. For 2008, the German company should contribute around EUR 300m to Polytec sales, pushing the total forward to more than EUR 1.1 bn, according to a forecast.
Exclusive of Peguform, the Austrian plastics group said it expects to be able to meet the forecast given with the publication of H1 2008 results, despite the "currently very difficult market environment." The aim is to achieve sales in 2008 of EUR 800m with an EBITDA margin of 8%.
28.10.2008 Plasteurope.com [212080]
Published on 28.10.2008
German version of this article...