25 March 2007
25 March 2007
The Sumitomo Bakelite Group has acquired Neopreg AG, a Swiss producer of long fiber thermoset composites marketed under the trade names Kinel and Neonite.
Neopreg, based in Gelterkinden, has unique technology for producing these composites that complements technologies used by Sumitomo’s existing specialty composites business. Neopreg will be integrated into Vyncolit , Sumitomo’s subsidiary that produces mouldable composites in Europe, but will retain its name. Henny van Dijk, President of Vyncolit N.V., has assumed leadership since February 19, 2007.
Shigeru Hayashi, Senior Managing Executive Officer for Sumitomo Bakelite’s High Performance Plastics division, stated, “This acquisition signals Sumitomo’s commitment to further develop our specialty composites business to take advantage of new market opportunities. Neopreg technology provides a strong platform for global growth in this sector. Our customers will benefit from the synergies between the two product lines, which will also spark new materials innovation.”
According to van Dijk, “This is an important strategic move that will add exciting new products in addition to our phenolics portfolio. These technologies will allow us to leverage new growth opportunities in the automotive and aerospace markets as well as capital good sector, including machinery for processing plastics. Vyncolit is a very strong marketing company, and the Neopreg portfolio will enable us to direct our marketing efforts to customers with specialized requirements. We view this as the first of many steps in the direction of becoming a leading specialty composites company.”
Photo: From left to right: Hideki Maruyama, Manager Long Fiber Technology Sumitomo Bakelite Europe; Shigeki Muto, President Sumitomo Bakelite Europe; Henny van Dijk, President Vyncolit and Neopreg; Theo Staeheli, Founder of Neopreg; Yoshiaki Taniguchi, Manager Business Planning Sumitomo Bakelite Japan and Peter van de Flier, Market Manager Neopreg products.
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