Peguform manufacture bumpers, cockpits, interior trim components, panels and front-end modules for the automotive industry. The company have manufacturing facilities in Europe, Brazil and Mexico along with three joint ventures in Spain, Portugal and China. In 2007, the company reported net sales of €1.4bn and employed 7,000 people.
The acquisition will create a supplier with annual sales of €2.2bn and 13,500 employees, and also increase their global presence in Europe, North and South America and Asia.
The takeover is expected to strengthen Polytec’s position as supplier of door panels, bumper systems and front-end modules in Europe. It will also consolidate the group’s position in Europe as a producer of composite parts to the automotive and commercial vehicle industry.
Around 80% of sales will be focused to VW Group, BMW and Daimler.