TenCate Advanced Composites USA, Inc (Morgan Hill, CA), a subsidiary of the NYSE Euronext listed Royal Ten Cate, has signed a definitive stock purchase agreement to buy all the shares of YLA, Inc and CCS Composites, Inc (both of Benicia, CA). Both companies were owned by Perstorp Holdings AB. The deal to purchase the collective companies is expected to close no later than the end of February 2008 and is subject to US Government approval.
YLA is a manufacturer of high quality thermosetting advanced composite materials. YLA is heavily focused on supplying the satellite & communications, aircraft, military, high temperature and energy markets. CCS Composites is a manufacturer of aerospace grade compression molded composite components used in commercial and military aircraft, satellite, oil & gas and industrial applications.
According to Jorg Huber, President & CEO of TenCate Advanced Composites USA, ‘The acquisition of YLA/CCS strengthens TenCate’s growing market position within the aerospace market and further establishes TenCate as a world leader in advanced composite materials. We see strong synergies between TenCate and YLA/CCS, based on our joint product, market (qualifications) and technological capabilities and feel this acquisition will positively benefit TenCate’s vision for excellence in composite materials’.