Teijin Completes Acquisition of Renegade
Tokyo, Japan --- Teijin Limited announced today that it has completed the acquisition of all the shares of Renegade Materials Corporation (Renegade), a leading North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. The acquisition was completed on August 1, Eastern Standard Time.
The acquisition of Renegade Materials will expand its aerospace business to include production capabilities for high-temperature prepreg materials that are used to manufacture engine parts in next-generation aircraft. Teijin will benefit from Renegade's proprietary technologies in thermoset prepregs that incorporate highly heat-resistant resins. Renegade develops and manufactures thermal-cycle resistant prepregs made from low-toxicity raw materials.
Teijin is strengthening its carbon fiber and intermediate materials businesses to solidify its position as a leading provider of solutions for aerospace applications. Teijin is targeting annual sales in this field in excess of USD 900 million by around 2030.
"We have been increasingly focusing on our carbon fiber business on the aircraft field as a top supplier to world-leading aircraft makers," says Shukei Inui, General Manager of Teijin's Carbon Fibers Business Unit. "Renegade's well-trusted technologies as well as its sales channels in this field, together with our global sales network, will reach wider markets to strong, lightweight, high-performance materials that offer environmentally sensitive solutions for improved fuel efficiency."
"We are excited to become part of Teijin's global family located in the U.S.," says Eric Collins, Chief Executive & Financial Officer of Renegade Materials. "Teijin is committed to supporting our advanced materials and proprietary production processes, allowing us to reach wider markets through its sales network and marketing initiatives. Significant resources are now available to expand product development and manufacturing capabilities, powered by Teijin's vast expertise in carbon fibers and chemistry."
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 over 170 companies and around 20,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY888.6 billion (USD 8.1 billion) and total assets of JPY 1020.7 billion (USD 9.3 billion) in the fiscal year ending March 31, 2019.