Sector News

Toray to acquire Europe-based carbon fiber prepreg business of Italian firm

December 10, 2014
Chemical Value Chain
Toray Industries says that it has reached a basic agreement with Saati (Appiano Gentile, Italy) to acquire its European carbon fiber fabric and prepreg business. Financial details of the deal were not disclosed. Toray will take over the assets of Saati’s plant at Legnano, Italy, in January 2015, which would then operate as Composite Materials Italy (CIT), a wholly owned subsidiary of Toray, while Saati’s American composite business will remain with the Saati group. 
 
Toray’s existing carbon fiber business in Europe includes the Toray Carbon Fibers Europe (CFE; Abidos, France) subsidiary’s polyacrylonitrile (PAN)-based precursor plant at Lacq, France; and carbon fiber–reinforced plastics (CFRP) parts business at its subsidiaries Euro Advanced Carbon Fiber Composites (EACC; Esslingen, Germany) and Ace Advanced Composite Engineering (Immenstaad, Germany). Toray bought a stake in Ace Advanced Composite Engineering, which develops and manufactures CFRP parts, in 2008. EACC was established in 2011 in a joint venture with Daimler (Stuttgart, Germany) for manufacturing and distributing CFRP parts. And in 2012, Toray purchased the shares it did not own in Société des Fibres de Carbone (Soficar; Abidos), a manufacturer and supplier of carbon fibers, from Arkema. Soficar, as a result, become a wholly owned subsidiary of Toray, and the business was renamed Toray Carbon Fibers Europe.
 
Saati’s carbon fiber fabric and prepreg business has been expanding rapidly in recent years as a customer of Toray’s carbon fiber-related companies, especially of CFE, Toray says. In the premium automobile field in particular, it has been highly acclaimed by the market for its quick response to customer requirements, despite being a late entrant into the market, Toray says. Toray intends to transfer its technology to CIT while aiming to expand the business beyond Europe by leveraging its global sales channel. Through the planned acquisition of Saati’s business, Toray will establish its own integrated supply chain, and would further strengthen the structure of Toray’s carbon fiber composite materials business in Europe, Toray says.
 
By Deepti Ramesh
 

Related News

April 10, 2021

Croda’s Iberchem to acquire French fine fragrance firm for $53 million

Chemical Value Chain

This is the first acquisition by Iberchem since it was acquired by Croda in November 2020 and it is expected to play an important role in Iberchem’s plan to increase its offering of sustainable and natural certified fragrances.

April 10, 2021

ICL to Acquire South American Plant Nutrition Business from Compass Minerals

Chemical Value Chain

ICL, a leading global specialty minerals and specialty chemicals company, has entered into a definitive agreement to acquire Compass Minerals América do Sul S.A. for approximately $402 million.

April 10, 2021

OMV flags upturn in petchem margins after year of declines

Chemical Value Chain

OMV says its European petrochemical net margins in the first quarter of 2021 rose sequentially compared with the fourth quarter, reversing momentum after four previous periods of declining margins.

Send this to a friend