01 June 2012
01 June 2012
TenCate has completed the acquisition of Performance Materials Corporation Baycomp, providing TenCate a strong position for the growing industrial composites markets worldwide, in particular the automotive market.
According to TenCate, PMC Baycomp has industry leading technologies for thermoplastic composite materials and components for among other automotive, oil & gas and consumer electronics. These activities will be marketed from the new market group TenCate Industrial Composites.
TenCate explains that the market positions in thermoplastic composites of PMC Baycomp and TenCate are fully complimentary. Under the proposed structure, TenCate aims to globally focus its composites business into the space and aerospace markets, respectively the industrial market, besides the composites solutions for ballistic protection of persons and vehicles which TenCate Advanced Armour offers defence markets.
Thomas Smith - until recent, President of PMC Baycomp - will be appointed President of TenCate Industrial Composites USA and will remain responsible for the operations in the USA (Camarillo, California), Canada (Burlington, Ontario), China (Guangzhou) and Taiwan (Taichung).
TenCate Advanced Composites EMEA, headed by Group Director Frank Meurs, will structure its organisation similarly to capitalise on the automotive, oil & gas and industrial market growth opportunities within the European and Middle East regions within the new division TenCate Industrial Composites EMEA.
Scott Unger, Group President for TenCate Advanced Composites North America states 'The timing was ideal for the acquisition of PMC Baycomp as we see very strong interest in thermoplastic composites within a variety of industrial markets. Further, the components and design centers of PMC Baycomp in Asia bring an important asset under the TenCate umbrella, which will be leveraged to support within several key developing markets in that region of the world'.
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