After some rough times, the financials are back in order at the Polytec Group, the orders book is full and the future looks bright. The molder's management is betting on a continuation of these positive developments as it announced its intent to expand its operations in Lohne, Germany and Hörsching, Austria, plus purchase for about €10 million the injection molding company PPI Plastic Products Innovation GM & Co (Ebensee, Austria). Total investment, internal plus the acquisition, will be about €15 million ($21.2 million).
Polytec is an automotive Tier 2 supplier of components and also serves other industries with technical moldings. The purchase of PPI from its own, Huemer Invest GmbH, helps it on both fronts. PPI was founded in 2001 as the outgrowth of the captive molding operations of outdoor furniture manufacturer Steiner. The Steiner-brand furniture is still molded and marketed by PPI, but it has added custom molding work for other industries to include automotive. The company has machines large enough to process parts weighing up to 18 kg (40 lbs). PPI's sales for 2011 will reach about €26 million.
Regarding its internal growth, Polytec says it will expand the current Components facility in Lohne, Germany and its Car Styling plant in Hörsching, Austria. The plant in Lohne will be expanded to meet additional orders already placed in the non-automotive area (consumer electronics including JIS supplies) and so it can better handle increasing production volumes, especially with regard to molding of cylinder head covers. ...