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Teijin is expanding its European automotive business with the acquisition of Inapal Plasticos, an automotive composite supplier based in Portugal.
Inapal’s shares were purchased by Teijin Holdings Netherlands. The acquisition was completed at the beginning of August 2018.
Inapal, headquartered in Leca do Balio, Porto, is a Tier 1 supplier of composite components to the automotive and heavy truck industries. The company’s capabilities include Class A body panels, structural and underbody components using a variety of materials and processes, including sheet moulding compound (SMC), carbon fibre SMC, prepreg compression molding (PCM), direct long fibre thermoplastic (D-LFT) and glass mat thermoplastic (GMT). The company has two manufacturing locations in Portugal serving a variety of European OEM customers including Jaguar, Land Rover, BMW, Mercedes, Volkswagen and Bentley.
Inapal also supplies components to the heating and cooling industry, as well as passenger seating components to the bus and rail industries. The company had sales of €31.9 million (US$37 million) in 2017.
“We are leveraging our lightweight, strong, high-performance materials and integrated composite technologies as one of the key focuses of the transformation strategies for our medium-term management plan,” states Jun Suzuki, President and CEO of Teijin. “The acquisition of Continental Structural Plastics positioned us as a Tier 1 supplier of high-performance composites to the global automotive market. In July, we announced the acquisition of J.H. Ziegler, a leading supplier of automotive interior materials in Germany. Now the acquisition of Inapal enables us to deliver on our promise to stakeholders to expand our technologies on a global basis, including in Europe. We will seek synergies by leveraging the business capabilities of CSP, Ziegler and Inapal to continue to grow as a supplier of multi-material components. It also enables us to demonstrate our commitment to evolve for future society as an enterprise that delivers new value.”
“The addition of Inapal positions CSP well as a global leader in the lightweight composites industry,” adds Steve Rooney, CEO of Continental Structural Plastics. “With this, we can truly say we are among the world’s largest suppliers of lightweight composite components to the automotive industry, we are strategically located to meet our customers’ needs, and we’re ready for the rapid changes that are taking place in the industry today.”
Teijin expects its automotive composite business sales to reach approximately €1.7 billion ($2 billion) by 2030. The company now has the ability to serve customers in most major regions of the world, including North America, Europe and Asia.
Teijin says it will continue to enhance Inapal’s operations, developing expansion opportunities, investing in growth and creating value for all stakeholders.
Following the acquisition of CSP in 2017, Teijin has committed to expand its automotive capabilities globally. Technology developments include Sereebo, the world’s first mass-production technology for carbon fibre reinforced thermoplastic (CFRTP), and in Europe, TENAX Part via Preform (PvP). Developed by Teijin Carbon Europe, PvP is a material process technology that enables the highly efficient production of thermoset carbon fibre reinforced plastic (CFRP). Teijin reports that PvP is recognised as a Tier 1 technology by European OEMs and is in production as a structural application on a current automotive platform. Finally, CSP’s European facility in Pouancé, Maine-et-Loire, France, recently announced that it will be installing a SMC line, making the company’s composite material technologies readily available to customers in Europe.
Image provided by Teijin
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