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Sep 8th, 2008                                Print this article

Automotive: Polytec acquires Peguform

By Matt Defosse

In a move it says gives it the size and presence to better compete globally in the automotive supplier industry, Austria’s Polytec has acquired the larger Peguform from Cerberus Capital Management for an undisclosed amount. Peguform is best known as a European supplier of door and bumper modules. Polytec does injection molding of interior and exterior parts and also has a major footprint in composite parts processing. Polytec has increased its sales tenfold since 2002, mostly through a series of acquisitions including Findlay Industries Europe in 2004, which nearly doubled sales, and also buying ISE Intex and Menzolit Fibron in 2007.

According to Polytec, the combined firms will have annual sales of about euro 2.2 billion, with euro 1.4 billion of those coming from Peguform. Polytec has 25 sites, all in Europe except for one each in the U.S. and South Africa. Peguform has 18 sites in Germany, the Czech Republic, Spain, Brazil, and Mexico, and three joint ventures in Spain, Portugal, and China.

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