Polytec Group

POLYTEC GROUP signed a contract to sell its interest in POLYTEC Industrial Plastics GmbH to joint owner Peter Stinshoff, with a one-off cash effect of approximately EUR 17 million. Closing is expected in early December 2020, subject to antitrust approval.

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.

Austrian automotive supplier POLYTEC has been awarded a major contract from a premium carmaker and will build a new plant in South Africa.

Polytec Group received a contract to produce vehicle underbody panels and other automotive components for a German premium carmaker and will build a new plant in East London, South Africa, with an investment of €10 million. Production is set to start in 2021.

Polytec Group, an automotive parts supplier, completed a new paint plant and assembly halls in Telford, UK, under an £8.45 million contract with builder Pave Aways. The facility adds 83,938 sq ft of manufacturing space.