Teijin to Acquire Inapal to Expand European Automotive Business

Tokyo, Japan, August 22, 2018 --- Teijin Limited announced today that it has agreed to acquire Inapal Plasticos SA (Inapal), a leading automotive composite supplier in Portugal. The shares of Inapal will be purchased by Teijin Holdings Netherlands B.V., the Teijin Group's holding company in the Netherlands. The acquisition was completed at the beginning of August 2018, following the satisfactory completion of customary closing conditions, including regulatory approval.

Inapal, headquartered in Leca do Balio, Porto, Portugal, is a Tier One supplier of composite components to the automotive and heavy truck industries. The company’s capabilities include Class A body panels, structural and underbody components using a variety of materials and processes, including sheet molding compound (SMC), carbon fiber SMC, pre-preg compression molding (PCM), direct long fiber thermoplastic (D-LFT) and glass mat thermoplastic (GMT). The company has two manufacturing locations in Portugal serving a variety of European OEM customers including Jaguar, Land Rover, BMW, Mercedes, Volkswagen and Bentley. 

In addition to its automotive and heavy truck business, Inapal supplies components to the heating and cooling industry, as well as passenger seating components to the bus and rail industries.  The company had sales of EUR 31.9 million (USD 37 million) in 2017. 

“We are leveraging our lightweight, strong, high-performance materials and integrated composite technologies as one of the key focuses of the transformation strategies for our medium-term management plan,” said Jun Suzuki, president and CEO, Teijin Limited.  “The acquisition of Continental Structural Plastics (CSP) positioned us as a Tier One supplier of high-performance composites to the global automotive market. In July, we announced the acquisition of J.H. Ziegler GmbH (Ziegler), a leading supplier of automotive interior materials in Germany.  Now the acquisition of Inapal enables us to deliver on our promise to stakeholders to expand our technologies on a global basis, including in Europe. We will seek synergies by leveraging the business capabilities of CSP, Ziegler and Inapal to continue to grow as a supplier of multi-material components.  It also enables us to demonstrate our commitment to evolve for future society as an enterprise that delivers new value.”

“The addition of Inapal positions CSP well as a global leader in the lightweight composites industry,” added Steve Rooney, CEO of CSP. “With this, we can truly say we are among the world’s largest suppliers of lightweight composite components to the automotive industry, we are strategically located to meet our customers’ needs, and we’re ready for the rapid changes that are taking place in the industry today.”

Teijin expects its automotive composite business sales to reach approximately €1.7 billion ($2 billion) by 2030.  The company now has the ability to serve customers in most major regions of the world, including North America, Europe and Asia, and has established business with every major global automotive OEM.

Teijin will continue to enhance Inapal’s operations, developing expansion opportunities, investing in growth and creating value for all stakeholders, namely employees, partners and clients.

Following the acquisition of CSP in 2017, Teijin has committed to expand its automotive capabilities globally.  Technology developments include Sereebo, the world's first mass -production technology for carbon fiber reinforced thermoplastic (CFRTP), and in Europe, TENAX Part via Preform (PvP). Developed by Teijin Carbon Europe GmbH, the group’s core carbon-fibers business, PvP is a material process technology that enables the highly efficient production of thermoset carbon fiber-reinforced plastic (CFRP). PvP is recognized as a Tier One technology by European OEMs and is in production as a structural application on a current automotive platform.  Finally, CSP’s European facility in Pouancé, Maine-et-Loire, France, recently announced that it will be installing a sheet molding compound (SMC) line, making the company’s patented, award-winning composite material technologies readily available to customers in Europe.

About Continental Structural Plastics
Continental Structural Plastics, a Teijin Group company, has provided leading-edge technologies in lightweight materials and composite solutions for the automotive, heavy truck, HVAC and construction industries for more than 40 years. Headquartered in Auburn Hills, Michigan, CSP provides full-service engineering support, and holds multiple patents covering materials development and manufacturing processes in composite materials formulation, design and manufacturing technologies.  The company has operations on three continents and more than 3,900 employees. 

About the Teijin Group
Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the areas of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has some 170 companies and around 19,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY835 billion (USD 7.6 billion) and total assets of JPY 986.2 billion (USD 9 billion) in the fiscal year ending March 31, 2018.
 

Press Contact
Continental Structural Plastics,
Kim Zitny
+1 248-535-6944
kim.zitny@cspplastics.com


Corporate Communications
Teijin Limited
pr@teijin.co.jp

 

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It is subject to change without prior notice.