Polytec Group

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Polytec Group

logo
legal form Corporation
ISIN AT0000A00XX9
founding 1986
Seat Hörsching , AustriaAustriaAustria 
management
  • Markus Huemer ( CEO )
  • Peter Haidenek ( CFO )
  • Heiko Gabbert ( COO )
  • Peter Bernscher ( CSO )
Number of employees 4,315
sales 636.4 million euros (2018)
Branch Automotive supplier
Website www.polytec-group.com
As of December 31, 2018

View of the headquarters of the Polytec Group in Hörsching (2013)

The Polytec Group (Polytec Holding AG) is a listed Austrian automotive supplier and plastics processor based in Hörsching . Customers include Volkswagen , BMW , Audi and Porsche . In the 2018 financial year, the Polytec Group generated sales of 636.4 million euros. The group has over 4,300 employees, spread across 27 locations in Europe, Asia and North America.

The company has been listed on the Vienna Stock Exchange since 2006 .

history

In 1986, Friedrich Huemer and his wife Ulrike Huemer founded Polytec Kunststoffververarbeitung GmbH, the cornerstone of today's Polytec Group. One of the first customers was Kässbohrer , for whom finishers for snow groomers were produced. At that time these orders were still going to Huemer as a private person. In 1988 the first own production facility was built in Marchtrenk .

Growth strategy

With the takeover of Sempollan, a division of Semperit AG , the company's long-term growth strategy based on acquisitions begins. Two years later, the Swiss casting machine manufacturer Spritztechnik was taken over and converted to Polytec EMC. Polytec EMC is a manufacturer of dosing systems for liquid multi-component plastics.

In 1995, a majority stake in the German Thelen, one of the most important processors of polyurethane, and the takeover of f / o / r Kunststofftechnik followed. Further investments in the Canadian FOHA and Ratipur Autófelszenrelés in Hungary strengthened the entry into the automotive supply industry. For the first time, annual sales of 15 million euros were achieved.

The use of injection molding technologies was favored a year later by the takeover of the German Rentrop. In 1997, Holden Hydroman in Bromyard was taken over by the Polytec Group.

In 2000, the Swiss investment company Capvis joined the company as an equity partner with a 67% stake. This was followed by three further acquisitions in Sweden , Italy and Belgium . In 2002, major expansions of the injection molding series business followed and entry into fiber composite technologies . The annual turnover in 2002 was 204 million euros. Further acquisitions of Thermoplast in Idstein and Lohne (Germany) followed. In 2004 seven Findlay Industries locations in Germany , Spain , Poland and South Africa were taken over. At the same time, the Lohner Lackierwerke was taken over and another location was built in Wolmirstedt , Germany.

In 2006 the company was listed on the Vienna Stock Exchange. Friedrich Huemer kept almost 33% of the shares as the core shareholder. At the same time, Capvis got out as an investor. An annual turnover of 525 million euros was achieved. In 2007 a stake in the Portuguese company Inapal Plásticos followed, as well as 6 further acquisitions in Germany, Slovakia and Turkey .

Until the takeover of Peguform (today Samvardhana Motherson Peguform ) the company was practically free of debt.

Takeover of Peguform

At the end of August 2008, it was announced that Polytec would acquire the German competitor Peguform, which is roughly twice its size, from the US subsidiary Cerberus . The entire company had planned sales for 2009 of 2.2 billion euros and 13,500 employees at 50 locations worldwide. Together, the company moved into the top 60 automotive supplier companies worldwide. The purchase price was not disclosed.

Due to the onset of the economic crisis in 2008 and the resulting sharp drop in sales, the planned refinancing of the purchase price could no longer be implemented. The company was at the limit of existence. Due to the very different interests of those involved, there is only one solution. All Peguform locations except for Weiden in the Upper Palatinate and Chodová Planá (Czech Republic) were sold again. In 2010 the location in Italy was sold again. In 2011, the entire Polytec Interior business unit was sold and Plastics Products Innovation in Ebensee , Austria was taken over. After these actions, the POLYTEC Group's equity ratio was again 28.3% in 2010 with an EBIT margin of 5.4%.

Current developments

To strengthen the global presence and to be logistically closer to some customers, the groundbreaking ceremony for a new injection molding plant in China took place in 2014 . In addition, two voestalpine Plastics Solutions plants in the Netherlands are taken over. Further takeovers in Germany increase the depth of value added in the toolmaking area of ​​the group. In 2016, the focus is increasingly on expanding production in China and Turkey. With an increased focus on the joint use of the group-wide variety of technologies and ongoing adjustments to the organizational structure and process organization, the POLYTEC Group achieved the best annual result in its 30-year history with an EBIT of 55.1 million euros.

Shareholder structure

In 2018, the share capital of the Polytec Group as of the balance sheet date was 22.3 million euros and was divided into 22,329,585 shares with a nominal value. The shareholder structure based on the shares issued is as follows:

  • Huemer Group 29.04%
  • NN Group NV 5.17%
  • Treasury shares 1.50%
  • Free float 64.29%

Structure of the company

The Polytec Group consists of the Polytec Holding and four other business units that differ based on the technologies used:

  • Polytec Car Styling: produces small series parts and systems as well as original accessories made of plastic and metal.
  • Polytec Composites: is the largest supplier of SMC exterior parts for the commercial vehicle industry in Europe. Lightweight solutions for automotive and non-automotive applications are also manufactured here.
  • Polytec Industrial: produces molded plastic parts and plastic coatings made of polyurethane. Small and large series can be realized with the help of the hot casting or spraying process. Furthermore, the production of individual multi-component, mixing and dosing systems takes place there.
  • Polytec Plastics: is a manufacturer of injection molding components in the automotive sector. Injection molded parts for the engine, interior and exterior areas are manufactured there.

In addition, three core areas can be distinguished: passenger cars , commercial vehicles and non-automotive.

Innovations

VICS

To produce VICS ( Variable In-Molded Composite Sandwich ), a thermoplastic matrix core is pressed with organic sheets (carbon or glass fiber reinforcements), acoustic elements, heat shields or glass fiber reinforced panels. In this way a weight reduction of up to 50% can be achieved. The material has an extremely high mechanical performance - comparable to 3 mm thick steel.

PISA

The In-Molded Sound Absorber , or PISA for short, is pressed together with a wide variety of lightweight materials using the one-shot process and ensures peace and quiet in the interior and exterior of vehicles. In addition, the sealed sound absorber does not absorb water, fuel, oil or brake fluid and thus protects the engine compartment from moisture, dirt and fungus. There are currently 5 million vehicles worldwide that are already equipped with PISA.

Integrated Acoustic Solutions

The Integrated Acoustic Solutions are special solutions for avoiding noise in the interior of a vehicle. Integrated plastic solutions are particularly suitable in terms of sound insulation . Four sub-categories can be distinguished. Covering includes sound absorbers that cover the engine compartment ( e.g. engine soft cover), enclosure products directly enclose the source of noise ( e.g. engines, cylinder head covers or water pumps), with housing the engine compartment is encapsulated (e.g. SMC front wall) and shielding includes various underbody solutions.

Web links

Commons : Polytec Group  - collection of images, videos and audio files

Individual evidence

  1. a b c d e Annual Report 2018. In: www.polytec-group.com. Retrieved July 3, 2019 .
  2. ^ Polytec Holding AG - Vienna Stock Exchange. Retrieved June 7, 2016 .
  3. a b c d Annual Report 2015. Accessed June 7, 2016 .
  4. ↑ Auto supplier Polytec takes over larger Peguform. August 29, 2008, accessed June 7, 2016 .
  5. Polytec: Two Peguform plants remain in the group. May 20, 2009, accessed June 7, 2016 .
  6. Annual Report 2011 (PDF) polytec-group.com. Retrieved September 21, 2019.
  7. Polytec: New injection molding plant in China for the production of transmission oil pans. January 26, 2015, accessed June 7, 2016 .
  8. Polytec Group buys the Plastics Solutions division of the voestalpine Group. October 1, 2014, accessed June 7, 2016 .
  9. Polytec Car Styling. Retrieved June 27, 2016 .
  10. Polytec Composites. Retrieved June 27, 2016 .
  11. ^ Polytec Industrial. Retrieved June 27, 2016 .
  12. ^ Polytec Plastics. Retrieved June 27, 2016 .
  13. a b Polytec World December 2015 - PISA and VICS. Retrieved June 27, 2016 .
  14. Polytec World June 2015 - Integrated Acoustic Solutions. Retrieved June 27, 2016 .