Toray to Purchase TenCate Advanced Composites
Expansion of the Carbon Fiber Business
Toray Industries, Inc., Tokyo, Japan announced that on March 14, 2018, it reached an agreement with Koninklijke Ten Cate B.V., Almelo, The Netherlands, to purchase the entire share of its subsidiary TenCate Advanced Composites Holding B.V., Nijverdal, The Netherlands, a Dutch carbon fiber composite material manufacturer.
It is assumed that the use of thermoplastic prepreg will further increase for medium- and small-sized mass-produced aircraft, as the material enables to bring down costs by improving efficiency of molding of members. In the medium-term management program Project AP-G 2019, launched by Toray in fiscal year 2017, the company is promoting the Green Innovation Business Expansion (GR) Project aimed at contributing to solving global environmental issues and resource and energy problems in a group-wide effort, and Toray is pursuing business expansion and market development of the carbon fiber business as one of the core businesses under the project.
TCAC, which Toray has decided to purchase, is a prepreg manufacturer with its main manufacturing bases in Europe and the U.S. and has a track record of widely supplying thermoplastic prepreg and high heat resistance thermoset resin materials. Especially, TCAC is a global leading company of carbon fiber intermediate materials using thermoplastic resins. The acquisition is expected to generate significant synergies by combining the product lineup in which TCAC specializes with the broad range of carbon fiber as well as polymer technologies, which are Toray's strengths. Combining the two companies' distribution channels, the company can offer a wider product lineup to the customers. Toray will respond swiftly to the expansion of the market for small-sized aircraft and expand the business further for industrial use applications including automobiles in the medium- to long-term.
Royal Ten Cate
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