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Teijin to acquire Benet Automotive to expand European reach

Teijin to acquire Benet Automotive to expand European reach

Japan’s Teijin Limited has agreed to wholly acquire Benet Automotive s.r.o. (Benet), an automotive composite and component supplier in the Czech Republic, from Jet Investment. Terms of the acquisition are not being disclosed.

Benet, headquartered in Mlada Boleslav, Czech Republic, is a tier one supplier of composite components to the automotive industry, offering advanced technologies for carbon-fibre-reinforced and glass-fibre-reinforced plastic moulding, as well as the painting and assembly of vehicles. The company specialises in reinforced reaction injection moulding (RRIM), a low-pressure process using polyurethane; and both conventional autoclave and resin transfer moulding (RTM). Benet has three facilities in Czechia and one in Germany to serve European automotive OEMs including Volkswagen, Mercedes, BMW, Audi and Skoda. The company had 720 employees and recorded sales of EUR35.2 million in fiscal 2018.

Teijin says it is growing its automotive composites business with proprietary lightweight, high-performance materials, and design capabilities, to become a multi-material component supply partner of automotive OEM customers served by Teijin hubs in Europe, North America and Asia. In Europe, Teijin acquired Inapal Plásticos SA, an automotive-composite supplier in Portugal, in August 2018; and is installing a glass and carbon fibre sheet-moulding-compound (GF-SMC and CF-SMC) line in the French facility of automotive composites supplier Continental Structural Plastics, based in North America, which Teijin acquired in January 2017.

Benet has strategic proximity to the central and eastern regions of the European market where key German and other European OEMs operate production facilities. The company’s well-proven supply record will provide a solid foundation for Teijin to further strengthen its solution development capabilities and sales channels in Europe, says Teijin.

As part of its multi-material strategy, Teijin will leverage Benet’s capabilities in existing development projects and evolve chemistry of innovations with Teijin and CSP’s outstanding material and molding technologies and technical team members to offer innovative automotive composite solutions that meet customers’ future needs for lightness, toughness, design flexibility, productivity and cost-effeteness. Teijin is targeting automotive composite business sales of approximately EUR1.7 billion by 2030.

(IMA)


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