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Teijin completes acquisition of Benet Automotive

Teijin Limited announced that it has completed the acquisition of Benet Automotive (Benet), a leading automotive composite and component supplier in the Czech Republic, from Jet Investment.

Teijin will benefit from Benet’s automotive composite technologies and its well-proven supply record; these will serve as a solid foundation on which to further strengthen Teijin’s solution development capabilities as a component supply partner of automotive OEM customers in Europe. As part of its multi-material strategy to offer innovative automotive composite solutions that meet customers’ future needs for lightness, toughness, design flexibility, productivity and cost-efficiency, Teijin will leverage Benet’s involvement in existing development projects with outstanding material and molding technologies and technical team members of Teijin, Continental Structural Plastics, a world leader in automotive composites based in North America which Teijin acquired in 2017 and Inapal Plásticos SA, a leading automotive-composite supplier in Portugal which Teijin acquired in 2018.

Teijin is targeting automotive composite business sales of approximately EUR 1.7 billion (USD 2 billion) by 2030.

Akio Nakaishi, General Manager of Teijin’s Composites Business Unit, said:

“We are growing our automotive composites business with our proprietary lightweight, high-performance materials, and superior multi-material design capabilities served by our hubs in Europe, North America and Asia. Benet Automotive’s well-established technologies and sales channels will further enhance our capabilities as a tier-one automotive supplier and help spur further innovation.”

Kamil Suchan, Chief Executive Officer of Benet Automotive also said

“We believe that it is a good step for us, primarily because under Teijin’s management we will be a part of one of the world’s most important global players in high-tech composite products for the automotive industry.”

Companies: TEIJIN

Industries: Automotive and Road Transportation

Terms: Asia-Pacific, Business, News Worldwide

Via
This article has been edited by Basalt.Today
Source
This article has been written on JEC Composites Magazine
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