Evonik & Forward to explore composite solutions in auto sector
Evonik Industries and Forward Engineering have set up a joint venture, Vestaro GmbH to drive forward industrial mass production of fibre composite components for the automotive industry.
The joint venture which will be headquartered in Munich, Germany will see Evonik holding 49 per cent of the shares and Forward Engineering 51 per cent.
Evonik is contributing its expertise in amine hardeners for epoxy resin formulations and isocyanate for polyurethane formulations to the material developments of the new company.
"Combined with the development know-how of Forward Engineering in composite construction, the result is a unique potential for the realisation of efficient lightweight construction solutions," Evonik said.
"In the joint venture, we are bundling expertise in engineering and in specialty chemicals," Dr. Leif Ickert, general manager of Vestaro said. "This means that we can offer even better tailored composite-matrix systems and even more competent service." (AR)
Fibre2Fashion News Desk – India