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Teijin completes acquisition of Renegade
Teijin has completed the acquisition of all the shares of Renegade Materials Corporation, a leading North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. The acquisition was completed on August 1, 2019. Teijin is a technology-driven global group offering advanced solutions in various areas of operations.
The acquisition of Renegade will allow Teijin to expand its aerospace business, including next-generation aircrafts’ engine parts. Teijin will benefit from Renegade’s well-established proprietary technologies and capabilities in thermoset prepregs that incorporate highly heat-resistant resins. Renegade develops and manufactures unique thermal-cycle resistant prepregs made from low-toxicity raw materials, according to Teijin.
Teijin is strengthening its carbon fibre and intermediate materials businesses to solidify its position as a leading provider of solutions for aerospace applications. Teijin is targeting annual sales in this field in excess of $900 million by around 2030.
“We have been increasingly focusing on our carbon fibre business on the aircraft field as a top supplier to world-leading aircraft makers. Renegade’s well-trusted technologies as well as its sales channels in this field, together with our global sales network, will reach wider markets to strong, lightweight, high-performance materials that offer environmentally sensitive solutions for improved fuel efficiency,” Shukei Inui, general manager of Teijin’s carbon fibres business unit said.
“We are excited to become part of Teijin’s global family located in the US. Teijin is committed to supporting our advanced materials and proprietary production processes, allowing us to reach wider markets through its sales network and marketing initiatives. Significant resources are now available to expand product development and manufacturing capabilities, powered by Teijin’s vast expertise in carbon fibres and chemistry,” Eric Collins, chief executive and financial officer of Renegade said. (GK)