Teijin acquiring thermoset prepreg supplier Renegade
Headquartered in Ohio, Renegade is a leading North American supplier of highly heat-resistant thermoset prepregs for the aerospace industry.
February 27, 2019 by Canadian Plastics
Japan’s Teijin Limited has agreed to acquire Renegade Materials Corporation, said to be a leading North American supplier of highly heat-resistant thermoset prepregs for the aerospace industry.
The terms of the deal have not been disclosed.
Miamisburg, Ohio-based Renegade’s products include prepregs based on epoxy, polyimide and bismaleimide prepregs. The company was founded in 1993 as a resin manufacturer and launched its thermoset prepreg business for aerospace applications under the Renegade brand in 2007.
Renegade will now become a wholly-owned subsidiary of Teijin.
In a statement, Teijin said that it will benefit from Renegade’s well-established proprietary technologies and solution capabilities in heat-resistant thermoset prepregs to expand its business in the aerospace field, including next-generation aircrafts engine parts.
“Demands for highly heat-resistant thermoset prepregs are increasing in the global aerospace industry,” said Shukei Inui, general manager of Teijin’s carbon fibers business unit. “Renegade offers well-established technologies and sales channels in this field, so we expect this acquisition to help us expand our related applications development and global business.”
“Global marketing initiatives will be supported by Teijin’s carbon fibre business, including Teijin Carbon Fibers, which plans to launch a new carbon fibre production facility in South Carolina by the end of 2020; Teijin Carbon America, Inc., a carbon fibre sales based in Tennessee; and Teijin Carbon Europe GmbH, a core company of the carbon fibre business in Europe,” Inui continued. “[We] are targeting annual sales in this field in excess of US$900 million by 2030.”
The deal is expected to close in spring 2019.