Teijin Limited, a technology-driven group, is set to acquire Continental Structural Plastics Holdings Corporation (CSP), a leading automotive composite supplier in North America, for US $825 million. The acquisition is scheduled to be completed in December 2016 after satisfaction of customary closing conditions, including regulatory approval.
With this acquisition, Teijin intends to establish the foundations of an automotive composite products business in North America, and to accelerate its expansion as a tier 1 supplier of high-performance composites to the global automotive market.Teijin Limited, a technology-driven group, is set to acquire Continental Structural Plastics Holdings Corporation (CSP), a leading automotive composite supplier in North America, for US $825 million. The acquisition is scheduled to be completed in December 2016 after satisfaction of customary closing conditions, including regulatory approval.#
The shares of CSP will be purchased by Teijin Holdings USA Inc., the Teijin Group's holding company in the US. Teijin will benefit from CSP's established sales channels in the North American automotive market, which will enable the combined business to provide a broader range of solutions that meet automakers' demands for weight reduction and durability, utilising the company's thermoplastic composite technologies.
The integration of CSP's technical expertise in thermoset composites and Teijin's leadership in complementary thermoplastics creates significant synergies for comprehensive multi-material applications to meet diversified demands from the automotive industry. Through this transaction, Teijin aims to become an automotive solution provider by expanding its offerings beyond carbon fibre and glass fibre materials, in collaboration with other materials manufacturers. Teijin intends to expand its product portfolio from materials to component design, implement a global supply chain and help achieve vehicle weight reductions in order to comply with tighter environmental regulations being introduced after 2020.
The combination of CSP's thermoset capabilities, especially its GFRP technology, and Teijin's high-performance composites such as carbon fibre reinforced thermoplastic (CFRTP), will help reduce weight and component count in finished products.
Teijin will also utilise CSP's European Centre for Advanced Technology in France and Teijin's own composite production facilities to enhance its global development capabilities, allowing the combined business to better address the requirements of European, Japanese and Asian automakers. (GK)
Fibre2Fashion News Desk – India
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