Toray acquires TenCate Advanced Composites
Tokyo-based Toray, said to be the world’s largest carbon fibre manufacturer, will pay 930 million euros for TenCate to shore up its thermoplastic composites capabilities.
March 19, 2018 by Canadian Plastics
In a bid to increase its business in the aerospace industry, Japanese materials firm Toray Industries Inc. – said to be the world’s largest carbon fibre manufacturer – is acquiring the TenCate Advanced Composites (TCAC) unit of Koninklijke TenCate BV for 930 million euros (US$1.15 billion).
While Toray already has a large number of transactions in the carbon fibre business for aerospace applications, the Tokyo-based company says it was facing the challenge of further technology development in diverse fields including thermoplastic prepreg, in addition to the existing thermoset prepreg and the establishment of a business base to respond to the anticipated expansion in demand in aircraft applications.
Headquartered in the Netherlands, TCAC is a specialist in thermoplastic and thermoset prepreg manufacturing. The company said the deal will secure it access to a source of highly specified carbon fibre, a crucial component to supporting the needs of its customers.”We have a long history of successful cooperation with Toray and are convinced that we can strengthen each other,” TCAC chief operations officer Frank Meurs said in a statement.
The deal is expected to close in the second half of 2018.