27 February 2019
27 February 2019
Teijin announces that it has agreed to acquire Renegade Materials Corporation (Renegade), a leading North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. Renegade will become a wholly-owned subsidiary of Teijin.
The shares of Renegade will be purchased by Teijin Holdings USA, the Teijin Group's holding company in the United States. The acquisition is anticipated to be completed this spring after customary closing conditions have been satisfied including receipt of regulatory approvals.
Teijin will benefit from Renegade’s well-established proprietary technologies and solution capabilities in heat-resistant thermoset prepregs to expand its business in aerospace field including next-generation aircrafts’ engine parts. Renegade’s products will reach wider markets thanks to Teijin’s expertise in carbon fibres and intermediate materials as well as its large product lineup and global sales network. Global marketing initiatives will be supported by Teijin’s carbon fibre business, including Teijin Carbon Fibers, which plans to launch a new carbon fibre production facility in South Carolina by the end of FY 2020, Teijin Carbon America, a carbon fibre sales base in Tennessee, and Teijin Carbon Europe, a core company of the carbon fibre business in Europe.
Teijin is strengthening its carbon fibre and intermediate materials businesses to solidify its position as a leading provider of solutions for aerospace applications. Teijin is targeting annual sales in this field in excess of USD 900 million by around 2030.
Renegade’s heat-resistant thermoset prepregs are well trusted by US and European aircraft manufacturers and aircraft engine suppliers. The company was established in 1993 as a resin manufacturer and launched its thermoset prepreg business for aerospace applications under the Renegade brand in 2007. Headquartered in Miamisburg, Ohio, Renegade offers specialised knowhow in highly heat-resistant resins and provides unique thermal-cycle resistant prepregs incorporating highly heat-resistant polyimide resin made from low-toxicity raw materials.
Teijin is increasingly emphasising strong, lightweight, high-performance materials that offer environmentally sensitive solutions for improved fuel efficiency. Teijin is focusing its carbon fibre business on the aircraft field, where it is rapidly developing midstream and downstream applications. A top supplier to world-leading aircraft makers for over 30 years, Teijin is noted for its TENAX carbon-fibre-filament yarn, which is used in primary and secondary structural parts for aircraft. The company is now leveraging its intermediate material and processing technologies for next-generation aircraft applications. Tenax carbon fibre and Tenax TPUD carbon-fibre thermoplastic unidirectional pre-impregnated tape were qualified by Boeing as advanced intermediate composite materials for primary structural aircraft parts.
“Demands for highly heat-resistant thermoset prepregs are increasing in the global aerospace industry,” said Shukei Inui, General Manager of Teijin’s Carbon Fibers Business Unit. “Renegade offers well-established technologies and sales channels in this field, so we expect this acquisition to help us expand our related applications development and global business.”
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