# POLYTEC GROUP to acquire automotive business of Wayand AG

POLYTEC GROUP has signed an agreement to take over the automotive business of insolvent Wayand AG, headquartered in Idar-Oberstein, Germany. The business has around 400 employees and produces plastic parts for premium carmakers. Closing is expected in early September 2019, subject to antitrust approval.

- Type: Acquisition
- Announced: 2019-08-13
- Where: Idar-Oberstein, Germany, Germany
- Jobs: 400
- Status: announced
- Products: plastic parts and modules for vehicles
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Polytec Group](https://endata.com/companies/31519.md) (acquirer)
- [Wayand AG](https://endata.com/companies/41318.md) (target)

## Sources

- [polytec-group.com](https://www.polytec-group.com/en/investor-relations/news/polytec-group-schliesst-vereinbarung-zur-uebernahme-des-automotive-geschaeftsbetriebs-der-wayand-ag), 2019-08-13: "The POLYTEC GROUP today concluded a company purchase agreement for the takeover of the automotive business of the insolvent Wayand Group."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.