HÖRSCHING: Austria’s POLYTEC Holding AG has sold its operational business in the United Kingdom to Britain’s WHS Group, a move aimed at sharpening its strategic focus and reducing debt.
Under the agreement, WHS will take over POLYTEC’s ongoing UK operations and related assets, while POLYTEC will retain ownership of land and buildings, leasing them back to the buyer. The companies did not disclose the transaction price.
The divestment will cut POLYTEC’s net financial liabilities significantly, the company said.
POLYTEC CAR STYLING UK Ltd. generated sales of €46.4 million between January and September 2025. Around 330 employees, including temporary staff, will transfer to WHS as part of the deal.
The sale comes as POLYTEC reshapes its portfolio amid uncertainty in its “Painted Exterior” segment, where overcapacity has weighed on market prospects. In July, the group announced plans to close its Weierbach plant in Germany by April 2026.
POLYTEC said the UK divestment is part of ongoing measures to streamline capital deployment and strengthen its long-term strategic orientation.