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Teijin takes over Benet Automotive

09 Sep '19

2 min read

Pic: Benet Automotive

Teijin, a group which offers advanced solutions in areas as environmental value, and safety, security and disaster mitigation, has taken over Benet Automotive, a leading automotive composite and component supplier in the Czech Republic, from Jet Investment. Teijin will benefit from Benet's automotive composite technologies and its well-proven supply record.

The taking over process was completed on August 30, Central European Time.

Teijin will benefit from Benet's automotive composite technologies and its well-proven supply record; these will serve as a solid foundation on which to further strengthen Teijin's solution development capabilities as a component supply partner of automotive OEM customers in Europe.

As part of its multi-material strategy to offer innovative automotive composite solutions that meet customers' future needs for lightness, toughness, design flexibility, productivity and cost-efficiency, Teijin will leverage Benet's involvement in existing development projects with outstanding material and molding technologies and technical team members of Teijin, Continental Structural Plastics, a world leader in automotive composites based in North America which Teijin acquired in 2017 and Inapal Plásticos, a leading automotive-composite supplier in Portugal which Teijin acquired in 2018.

Teijin is targeting automotive composite business sales of approximately $ 2 billion by 2030.

"We are growing our automotive composites business with our proprietary lightweight, high-performance materials, and superior multi-material design capabilities served by our hubs in Europe, North America and Asia," said Akio Nakaishi, general manager of Teijin's Composites Business Unit. "Benet Automotive's well-established technologies and sales channels will further enhance our capabilities as a tier-one automotive supplier and help spur further innovation."

Kamil Suchan, chief executive officer of Benet Automotive said, "We believe that it is a good step for us, primarily because under Teijin's management we will be a part of one of the world's most important global players in high-tech composite products for the automotive industry." (SV)

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