PresseBox
Press release BoxID: 146907 (Polytec Holding AG)
  • Polytec Holding AG
  • Linzer Strasse 50
  • 4063 Hörsching
  • http://www.polytec-group.com
  • Contact person
  • Manuel Taverne
  • +43 (7221) 701-292

POLYTEC GROUP holds roughly 10% of GRAMMER AGs ordinary shares

(PresseBox) (Hörsching, ) POLYTEC GROUP today announced a holding of 1,006,009 or 9.59% of GRAMMER AGs ordinary shares. GRAMMER AG is listed in the SDAX of the Germany Stock Exchange.

GRAMMER AG, a respectable TIER 1 supplier to the automotive industry, and its business segment Automotive would have, due to its similar customer base and its complementary product portfolio, a perfect fit to POLYTECs Automotive Systems Division. The second business segment Seating Systems, with its similar customer base, would represent an enlargement of POLYTECs current product portfolio to the commercial vehicle industry. GRAMMER AG currently operates in Europe, North- and South America as well as in China. Especially the plants Eastern Europe, America and China represent a high potential for a global positioning of the POLYTEC GROUP.

The decision for a holding in GRAMMER AG was made after a precise review of the development of the company and especially its development on the stock market. Above all the current valuation level of GRAMMER AG was the key driver for POLYTEC GROUPs current holding in GRAMMER AG.

Further activities can only be made after a first meeting with the management and the main investors of GRAMMER AG. After that, a decision, whether to increase our current holding successively or to make a take-over bid, can be made. With our current knowledge and the actual valuation level a substantial higher holding and as a result a closer cooperation is definitely aimed and also desirable.

Polytec Holding AG

POLYTEC GROUP is an international well know and accepted developer and producer of parts, components, modules and systems fort the automotive industry. Founded in 1986 by Friedrich HUEMER, in the past 20 years, the company developed from a producer of industrial plastic part to an automotive systems supplier, who can offer the complete process chain. Today the companies focus is in producing parts for the interior- , exterior- and under the hood parts as well as the production of genuine accessories for the automotive- and commercial vehicle industry.

The strategy of POLYTEC is based, beside a sustainable organic growth model, on a selective a acquisition policy. Out of this strategy POLYTEC GROUP sales increased in the past five years 3

from 265.5 Mill. EUR in 2003 to expected sales in 2008 of around 800 Mill. EUR. POLYTEC GROUP has approx. 6,600 employees (incl. leased stuff).