Teijin buys U.S. maker of car materials | Chemical & Engineering News
Volume 94 Issue 37 | p. 12 | Concentrates
Issue Date: September 19, 2016

Teijin buys U.S. maker of car materials

Department: Business
Keywords: mergers & acquisitions, cars, composites, plastic, carbon fiber, glass fiber, Japan

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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