Japan’s Toray Industries, the world’s largest maker of carbon-fiber composite materials, said it will buy TenCate Advanced Composites for an enterprise value of 930 million euros ($1.15 billion), as it looks to ramp up its carbon-fiber business.
The deal is in line with Toray’s aim to speed up the development of technology to match growing demand in aircraft applications of carbon fiber.
“The demand for medium- and small-sized, single-aisle aircraft is growing significantly and the development of the next-generation aircraft targeting such demand is expected to intensify,” Toray said in a statement. bit.ly/2GrtT76
TenCate manufactures thermoplastic prepreg, a material that improves efficiency of molding. Toray expects demand for the material to increase in line with demand for medium and small-sized mass-produced aircraft.
Toray has been building its carbon-fiber business, beginning with the 2013 acquisition of U.S.-based Zoltek Companies for $584 million.
The deal, which is expected to be completed in the second half of 2018, is subject to approvals by regulators, TenCate said in a separate statement, adding that Toray expects to retain key management of TCAC following completion of deal.
($1 = 0.8087 euros)
By Chris Thomas
Neste is announcing the conclusion of its first series of trials into processing liquefied waste plastic with chemical recycling technology at its Porvoo refinery in Finland. The oil refining company says it has processed about 800 tons of liquefied waste plastic over the last two years – roughly the same amount generated annually by a European city with 500,000 people.
Sika performed well in a challenging environment in 2021. Despite the persistent COVID-19 pandemic and bottlenecks in the procurement of raw materials, sales rose significantly to a record CHF 9.24 billion, corresponding to growth of 17.1% in local currencies.
Ineos Olefins and Polymers Europe is joining the pioneering polypropylene (PP) recycling project Nextloopp, supporting its delivery of food-grade recycled content. The chemicals company will orchestrate a pivotal two-year project that will inform the building of a demonstration plant in the UK to produce 10,000 metric tons of recycled polypropylene (rPP) annually.