04 November 2006
04 November 2006
Alcan has agreed in principle to acquire the business and assets of Penske Composites, the manufacturer of reinforced structural urethane core material products for the marine and industrial markets.
""The addition of Penske Composites, LLC would strengthen Alcan's portfolio of structural core materials by enhancing its product offering and providing customers with the broadest product range for core materials in the industry,"" said Georg Reif, President, Alcan Composites. ""This acquisition would also give Alcan further entry into developing markets, currently served by other Alcan Composites product lines in the display and sandwich construction industries,"" he added.
Structural core materials are used in composite sandwich construction, to offer a balance of high performance and lightweight design properties. Penske Composites, LLC's ""Xtreme"" heavy density fibre reinforced products are already recognized in the U.S. marine and industrial markets as structural core ""cut parts"" for transoms and stringer systems, and can be used as a core material in composite sandwich layers or as a self supporting system.
Penske Composites’ recently introduced low density scrimmed and scored product will compliment Alcan's existing AIREX, BALTEK and KAPEX lines of structural core materials to support the increasing global demand for core material products in the marine, mass transportation, wind-power generation and aerospace markets. Penske Composites, LLC is located in Mount Juliet, Tennessee. It recorded US$4.6 million in 2005 revenues and employs 36 people.
""We are pleased to have found a strategic buyer in Alcan,"" said Herman Novak, Executive Vice President, Penske Composites, LLC. ""I am convinced that Alcan's marketing and sales organization will help the business to substantially improve its market position as the demand for core material products continues to grow,"" he added.
The transaction is expected to be completed in early December 2006, subject to execution of a definitive purchase and sale agreement.
Stratasys announces it is deepening its partnership with Boom Supersonic – the Colorado-based company building history’s fastest supersonic airliner. In signing a seven-year agreement extension, the companies are further accelerating adoption of additive manufacturing for 3D-printed flight hardware.
CRP Technology collaborated with the Department of Aerospace Science and Technology of the Politecnico di Milano (PoliMi) on the construction of parts for the aeroelastic wind tunnel demonstrators for ‘Aeroelastic Flutter Suppression (AFS)’ e ‘GLAMOUR’ projects.
Research to develop a revolutionary high-performance composite metal hybrid stabiliser bar for trucks and trains has entered a new phase. The findings from the project to date show that the technology has the potential to spin out into other sectors such as aerospace and could see the UK take a global lead with this disruptive technology.