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Polytec: No Grammer bid now.(Suppliers)(Brief article)
- Article from:
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Automotive News Europe
- Article date:
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February 4, 2008
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Copyright informationCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Klaus-Dieter Florecke Automobilwoche
Friedrich Huemer, CEO and major shareholder of the Austrian auto supplier Polytec, is playing down reports that he is preparing a takeover bid for Grammer.
Polytec, a supplier of interior, exterior and under hood components as well as car and commercial vehicle accessories, has acquired a 9.6 percent stake in Grammer, also an interiors supplier based, which is based in Amberg, southern Germany.
"But it's now impossible to say whether this will be significantly increased or whether it will become a majority stake or a complete takeover," Huemer told Automotive News Europe sister publication Automobilwoche.
An ...