Teijin Limited has completed the acquisition of all the shares of Renegade Materials Corporation (Renegade), one of the leading North American suppliers of highly heat-resistant thermoset prepreg for the aerospace industry.
Acquisition to Expand Aerospace Business
The acquisition of Renegade will allow Teijin to expand its aerospace business, including next-generation aircrafts' engine parts. Teijin will benefit from Renegade's well-established proprietary technologies and capabilities in thermoset prepregs that incorporate highly heat-resistant resins.
"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."
Renegade on the Merger
Teijin's vast expertise in carbon fibers and chemistry will allow Renegade to get support on their advanced materials and proprietary production processes and reach wider markets through its sales network and marketing initiatives.
"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. "
Renegade develops and manufactures unique 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.
Source: http://www.teijin.co.jp/