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Toray Buys Dutch Carbon-Fiber Supplier
Japan’s Toray Industries Inc. has agreed to buy a Dutch maker of carbon-fiber composites in a bid to expand sales in the auto industry.
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Japan’s Toray Industries Inc. has agreed to buy a Dutch maker of carbon-fiber composites in a bid to expand sales in the auto industry.
Toray says it will spend €930 million ($1.2 billion) to acquire TenCate Advanced Composites Holding (TCAC), an 18-month-old unit of fabric and composites maker Koninklijke Ten Cate BV. The subsidiary has operations in Europe and the U.S.
TCAC specializes in pre-impregnated composite fibers that are then formed and cured in heated molds. Toray says the company’s capabilities and distribution channels will help it expand into the automotive and small airplane markets.
The companies expect to complete the sale in the second half of this year, pending regulatory approvals.
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