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Announcement purchase Kendrion Van Niftrik B.V.

16 April 2004 | 

Polynorm N.V., a company of the division motion of the listed voestalpine AG, announces that it has signed at April 16, 2004 a Sales and Purchase Agreement with Kendrion NV to acquire all outstanding shares of Kendrion Van Niftrik B.V. ("Van Niftrik") in Putte, the Netherlands.

Van Niftrik produces injection moulding components mainly used for the automotive industry, and has a turnover of more than Euro 30 million and 250 employees. The acquisition is a result of voestalpine - division motion’s strategic mission to further develop its added value towards its customers. This acquisition allows Polynorm to make significant steps to further enhance its position in multi-material component solutions. Van Niftrik will benefit from the pool of technology resource and financial strength of Polynorm and the voestalpine group and its subsidiaries to enter a path of sustainable growth and expansion.

The actual transfer of the shares is planned to take place before the end of April 2004, after approval by relevant competition authorities. After completion of this transaction, Kendrion Van Niftrik B.V. will be renamed Polynorm Van Niftrik B.V.