Toray Industries, Inc. (Tokyo, Japan; www.toray.com) reached an agreement with Koninklijke Ten Cate B.V. (KTC) to purchase the entire share of its subsidiary TenCate Advanced Composites Holding B.V. (TCAC), a Dutch carbon-fiber composite-material manufacturer.
Toray and KTC plan to sign without delay a share purchase agreement on this acquisition after completing discussions with the Works Council, as stipulated by Dutch laws.
The acquisition will be carried out based on the premise of receiving approval from the regulatory authorities.
TCAC 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.