03 April 2012
03 April 2012
TenCate has reached an agreement for the strategic acquisition of Performance Materials Corporation Baycomp from Camarillo (California), USA, the American and Canadian specialist company in composite materials moulding and thermoplastic uni-directional tape materials.
TenCate expects the purchase of Performance Materials Corporation Baycomp to be completed on or before April 2nd, 2012. TenCate has the intention to expand the revenue potentialof Performance Materials Corporation Baycomp (PMC Baycomp) in the near term, especially in its rapidly growing new market opportunities, such as the oil and gas sector and the mobility sector. TenCate say the PMC Baycomp technology is one of the critical entry keys to new - high volume - markets for affordable composite materials and is a strategically significant acquisition for them. They say that sufficient capacity exists at PMC Baycomp to support its near term growth, at the same time TenCate will also start production of similar uni-directional (UD) tape materials in Europe, in order to prepare itself for new market opportunities in European industrial markets.
According to TenCate, the acquired company is the result of a merger between PMC and Baycomp, founded by Saint Gobain in 1985. They explain that the acquisition of PMC Baycomp is a fully complementary enforcement of the existing range of thermoset and thermoplastic composite materials within the portfolio of TenCate. This acquisition is expected to largely contribute to the recent formation of the TenCate Industrial Composites market group, besides the market groups TenCate Space Composites, TenCate Aerospace Composites and TenCate Advanced Armour.
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