Plastic Omnium, a worldwide leader in the production of plastic components for automotive industry, concluded a contract for the takeover of a Gliwice-based company, Plastal.
In October 2011 Plastal successfully concluded two-year long bankruptcy proceedings and it begins the year 2012 not only as a part of an international group but also with two new projects for some of the biggest international automotive companies in the world.
The contract was signed on 29 December 2011 in Warsaw by the representatives of Plastal and Plastic Omnium. Along with the biggest plant of the company located in the Gliwice Subzone of the Katowice Special Economic Zone, Plastic Omnium will also take over other branches located in Poznań, Tychy and Swarzędz, which directly cooperate with car manufacturers headquartered there. Total employment at the level of 626 people will be retained.
Representatives of both companies also announced that from the new year the Gliwice-based company will adopt a new name - Plastic Omnium Auto Sp. z o.o.
As the representatives of the investor point out, besides changes in the management, the organisational structure of the company will not change. Moreover, projects so far carried out by Plastal will be kept (e.g. for BMW, Ford, Fiat, GM or VW), but in 2012 the company will also have new launches connected with the production of elements for two international automotive companies, some of the biggest in the world automotive industry. Soon the company will be able to announce the names of clients and products. These projects have been obtained by Plastal's management before the new investor's engagement.
- Our presence in such a strong group like Plastic Omnium first of all gives us the guarantee of financial stability and the possibility to develop in the next few years. On the other hand, it must be remembered that Plastic Omnium is gaining an experienced team of specialists which has shown that even in difficult times it is able to fully professionally and reliably do their job and fulfil obligations towards more and more demanding clients from the European automotive industry - says Aleksander Czajka, director of Plastic Omnium Auto's Gliwice-based plant.
According to the representatives of trade unions in the company, employees positively react to changes in the company.
- For trade unions representing the staff it is always most important to retain the level of employment and ensure stable financial situation for the coming years. Knowing the plans of the new owner towards our company we are confident about the future of the plant, what also translates to the general mood among the staff - says Waldemar Piela, the chairman of NSZZ "Solidarność" trade union in the Gliwice company.
***
In October 2011 the Plastal company finally concluded bankruptcy proceedings going on since 2009. Financial trouble of Plastal Sp. z o.o. began in March 2009, when the Scandinavian owner of the company declared itself bankrupt. In May 2009, the District Court in Gliwice issued the decision on initiating bankruptcy proceedings. There were also unsuccessful attempts to auction the company.
In May 2011 the new Management Board was appointed with Bengt Kjell as the President as well as Aleksander Czajka and Rafał Moczkowski, who took up activities aimed at keeping up cooperation with the existing clients and looking for potential strategic investors. As a result of the official receiver's efforts, who managed the company from May 2009 to May 2011, and the new management, in the period of May 2009-July 2011 the company earned a profit, which made it possible to collect 84 million zlotys to pay off creditors. Good financial results and retaining business continuity in the context of the possibility to prolong cooperation with key clients led to signing the takeover agreement with Plastic Omnium.###
Information about Plastic Omnium Auto Sp. z o.o. (formerly Plastal Sp. z o.o.)
Plastic Omnium Auto (formerly Plastal) is the producer of plastic and painted parts for automotive industry, including bumpers, spoilers, door sills, door panels, inlet pipes and dashboards. The client portfolio includes the world’s largest carmakers, like Volkswagen, Fiat, Ford, GM or Jaguar. The company was founded in 1997 as one of the first companies in the Gliwice Subzone of the Katowice Special Economic Zone, where it still has its headquarters.
Plastic Omnium Auto (formerly Plastal) currently employs 626 people in four locations in Poland - in Gliwice, Poznań, Tychy and Swarzędz.
Information about Plastic Omnium Group
Plastic Omnium is the world leader in the production of plastic parts and modules for the world automotive industry and solutions connected with waste management for local communities and business. The company employs about 20 thousand people in 100 plants in 28 countries worldwide. Plastic Omnium is listed on NYSE Euronext Paris. For more information please visit www.plasticomnium.com
