TOKYO — September 13, 2016 — Teijin Ltd. announced today that it has agreed to acquire Continental Structural Plastics Holdings Corp. (CSP), an automotive composite supplier in North America, for $825 million. CSP will become a wholly owned subsidiary of Teijin. Through this acquisition, Teijin intends to establish the foundations of an automotive composite products business in North America, and to accelerate its expansion as a tier 1 supplier of high-performance composites to the global automotive market.
CSP的股票将由Teijin Holdings USA Inc.（Teijin Group在美国的控股公司）购买。此次收购定于2016年12月在习惯关闭条件（包括监管机构批准）满意之后完成。
CSP is a leading manufacturer of thermoset composites in the automotive industry and is the world’s largest sheet molding compound (SMC) manufacturer for automakers. Since its establishment in 1969, CSP has provided leading-edge technologies in lightweight materials and composite solutions such as glass fiber reinforced plastic (GFRP) for the automotive industry. Headquartered in Auburn Hills, Mich., CSP provides full-service engineering support, and holds more than 50 patents covering materials development and manufacturing processes in composite materials formulation and design. Its Class A surfaces produced by its SMC technology have been adopted by various automakers in the US, Europe and Japan.The company has 14 facilities in the US, Mexico, France and China and approximately 3,200 employees. It posted consolidated sales of over USD 634 million in the fiscal year ending December 31, 2015.
Teijin will benefit from CSP’s established sales channels in the North American automotive market, which will enable the combined business to provide a broader range of solutions that meet automakers’ demands for weight reduction and durability, utilizing the company’s thermoplastic composite technologies.
The integration of CSP’s technical expertise in thermoset composites and Teijin’s leadership in complementary thermoplastics creates significant synergies for comprehensive multi-material applications to meet diversified demands from the automotive industry. Through this transaction, Teijin aims to become an automotive solution provider by expanding its offerings beyond carbon fiber and glass fiber materials, in collaboration with other materials manufacturers. Teijin intends to expand its product portfolio from materials to component design, implement a global supply chain and help achieve vehicle weight reductions in order to comply with tighter environmental regulations being introduced after 2020.
CSP的热固性功能，尤其是其GFRP技术，以及Teijin的高性能复合材料（例如碳纤维增强热塑性塑料（CFRTP））的组合将有助于减轻成品中的重量和组件计数。反过来，这将提高回收效率，并为汽车制造商增值解决方案，以较低的成本满足其对更环保组件的要求。Teijin还将利用CSP在法国和Teijin自己的复合生产设施中的欧洲高级技术中心来增强其全球发展能力，从而使联合业务能够更好地满足欧洲，日本和亚洲汽车制造商的要求。Teijin Group的汽车复合产品业务将目标销售到2030年，为20亿美元。
Teijin Ltd.总裁兼首席执行官Jun Suzuki评论说：“自2014年1月被任命为Teijin总裁以来，我采用了商业模式，通过将自己的材料，医疗保健和IT技术结合起来，帮助提供增值解决方案。We are confident that the platform for automotive composite products business we will gain through the acquisition of CSP’s complementary technical expertise in thermoset composites and GFRP know-how will trigger further development of our integrated high-performance materials business, one of our key strategic fields.”
Suzuki added: “Utilizing such synergy effects, and as outlined in our 2014 Transformation and Growth Strategies in Revised Medium-Term Management Plan, Teijin aims to provide consistent upstream-to-downstream solutions and realize one of the company’s growth concepts, which is high-performance materials technologies that create new value. The Teijin Group will continue to evolve, aiming to become a company that supports future society leveraging our core strengths in integrated high-performance materials and healthcare.”
Teijin is implementing a solutions-oriented business model as part of its long-term management vision, with development of composite applications for mass-produced automotive components one of its priorities in the field of high-performance fibers. Environmental concerns such as CO2 emission reductions and improvements in fuel efficiency are now global issues; accelerated development of tough and lightweight eco-friendly composite components is therefore a pressing task in the automotive industry. Teijin is now focused on establishing a platform for business development in automotive composite products, aiming to provide a wider range of solutions for automakers.
Teijin于2008年建立了其Teijin Composites Innovation Center，并致力于开发领先的复合产品技术和应用。2011年，该公司开发了CFRTP的首个全球批量生产技术，其生产时间间隔时间（或“ takt time”）仅一分钟。Teijin随后在美国建立了一个技术设施，并为日本CFRTP的全面生产提供了试点工厂。在2012年，它为世界上第一个CFRTP产品-Sereebo™提供了烙印，并一直在与国内和国际企业合作通过大容量生产方法进行商业用途。Meanwhile, Toho Tenax Co., Ltd., the core company of the group’s carbon fibers and composites business, has developed an integrated production system for carbon fiber-reinforced plastic (CFRP) using its Tenax® Part via Preform (PvP) technology that considerably reduces carbon-fiber waste compared to conventional preform production methods. Furthermore, Teijin obtained ISO/IEC 17025 accreditation for its evaluation capabilities in 2015 and ISO/TS 16949 accreditation for automotive production and relevant service part organizations in 2016.
Posted September 13, 2016
Source: Teijin Ltd.
