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Polytec Group to buy the voestalpine Group Plastics Solutions business unit

2014-10-01 | 

Steel-based technology and capital goods Group voestalpine has signed an agreement (‘Signing’) with the Polytec Group for the takeover of voestalpine Polynorm Van Niftrik and voestalpine Polynorm Plastics (Plastics Solutions business unit) by Polytec Netherlands Holding B.V. The decisive factor behind this sale is the company’s rapidly increasing strategic divergence from voestalpine’s core business. The selling process is scheduled for completion by the beginning of November 2014 (‘Closing’).

The voestalpine Group is divesting itself of its Plastics Solutions business unit, to date part of the Metal Forming Division, for strategic reasons. “We are focusing on consistently driving forward our corporate strategy which is clearly oriented at our core segments and materials know-how. Consequently, the Plastics Solutions sector does not belong to our future core strategic segments,” explains voestalpine Management Board member Herbert Eibensteiner. Last year, the Plastics Solutions business unit generated revenue of around EUR 120 million at the two Dutch sites Putte and Roosendaal and employed a staff of almost 700 persons. Its products include underbodies, acoustic, and exterior components for commercial vehicles, as well as non-automotive products. The major customers are primarily European OEMs. In future, these application areas will be covered by strategic partnerships with global manufacturers, also for hybrid components.

Metal Forming Division

The Metal Forming Division of the voestalpine Group achieved a total sales volume during 2013/14 of EUR 2.4 billion and an operating result (EBITDA) of EUR 276.4 million. The division employs roughly 11,500 staff members and does business with almost all European car manufacturers. Within the Group, it constitutes the center of competence for highly refined sections, tubes and precision steel strip products and ready-to-install components made of pressed, stamped and roll-formed parts. Its combination of material expertise and processing competence is unparalleled throughout the industry, and its global presence makes the division the preferred partner to customers who are looking for innovativeness and quality.

The voestalpine Group

The voestalpine Group is a steel-based technology and capital goods group that operates worldwide. With around 500 Group companies and locations in more than 50 countries and on all five continents, the Group has been listed on the Vienna Stock Exchange since 1995. With its top-quality products, the Group is one of the leading partners to the automotive and consumer goods industries in Europe and to the oil and gas industries worldwide. The voestalpine Group is also the world market leader in turnout technology, special rails, tool steel, and special sections. In the business year 2013/14, the voestalpine Group reported revenue of EUR 11.2 billion and an operating result (EBITDA) of EUR 1.4 billion; it had around 48,100 employees worldwide.