22 January 2013
22 January 2013
TenCate has reached an agreement on the acquisition of Amber Composites, a UK-based manufacturer of thermoset composites for the industrial and automotive market.
According to TenCate, the major portion of the global composite market consists of thermoset materials. TenCate says its activities in this market are mainly focused on aerospace, space and radome applications and within TenCate Advanced Composites concentrated in the US. The acquisition of Amber Composites is expected to help accelerate activities in the European market in the field of thermoset composite materials.
TenCate activities originate in the Netherlands, where more than 20 years ago TenCate began the development of thermoplastic composites for the aviation industry under the brand name TenCate Cetex. The main advantages of thermoplastic composites are their lower process costs and faster processing time in the production of components.
As a result of the acquisition of Amber Composites, TenCate explains that it increases its presence in the market for industrial and automotive composites, tooling materials and in the aerospace market in Europe, with both thermoset and thermoplastic composites. Thermoset composites are used as an alternative for those applications that cannot be met by thermoplastic composites. This creates a one stop shop for customers of TenCate Advanced Composites.
TenCate in both the US and Europe hope to profit from the acquisition of Amber, which it says will produce a stronger and more balanced product portfolio. It will also ensure entry into new markets, both in the USA and in Europe.
TenCate recently announced its alliance with BASF for thermoplastic composites for the automotive market, as well as with 3M for the US tooling market aimed at expansion of its market potential for thermoset composites. Tooling composites is one of the strengths of Amber Composites. The recent acquisition of PMC Baycomp in the US and the current acquisition of Amber Composites support the company’s expansion into new markets.
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