Cytec strengthens auto composite development with German acquisition

US-based Cytec Industries has acquired an equity position in German engineering, design and process development firm C-CON Holdings. The companies have also signed a joint development agreement to develop novel carbon fibre-reinforced polymer (CFRP) processing techniques for high volume production for the serial automotive market, building on pioneering work done by C-CON, and leveraging Cytec’s materials development capabilities. Terms of the agreement will not be disclosed.

C-CON, a privately held company headquartered in Germany, is a recognised engineering partner to several European automotive OEM companies including BMW Group, Daimler, VW and Audi. They develop components and processes from the initial design through to readiness for series-production, while observing and meeting all customer requirements and legal regulations. These capabilities are of particular value in expanding the adoption of CFRP for large-volume automotive applications.

“Cytec has a leading position today in supplying CFRPs for high-end automotive applications. This alliance with C-CON marks an important step forward in demonstrating our commitment to pursue CFRP technology development to enable adoption into a broader automotive market,” said Shane Fleming, Chairman/CEO of Cytec.

(IMA)

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