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Teijin will pay $825 million for Continental Structural Plastic (CSP), a Michigan-based supplier of composites to the car industry. With 3,200 employees at 14 sites in the U.S., France, Mexico, and China, CSP specializes in glass-fiber-reinforced plastics. Teijin says CSP’s know-how, distribution network, and portfolio will complement its own carbon-fiber-based composite materials business. By 2030, the Japanese firm hopes to be one of the world’s leading suppliers of automotive composite materials, with annual sales of $2 billion.
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