Teijin to acquire Renegade, expand carbon fiber business in aerospace
The acquisition aligns with Teijin’s goals to expand its carbon fiber intermediate materials business and expertise into next-generation aerospace.
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Teijin Ltd. (Tokyo, Japan) announced today that it has agreed to acquire Renegade Materials Corp. (Renegade, Miamisburg, Ohio, U.S.), a leading North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. Renegade will become a wholly-owned subsidiary of Teijin.
The shares of Renegade will be purchased by Teijin Holdings USA Inc., the Teijin Group's holding company in the United States. The acquisition is anticipated to be completed this spring after customary closing conditions have been satisfied including receipt of regulatory approvals.
Teijin says it will benefit from Renegade’s well-established proprietary technologies and solution capabilities in heat-resistant thermoset prepregs to expand its business in the aerospace field, including next-generation aircraft engine parts. According to Teijin, Renegade’s products will reach wider markets thanks to Teijin’s expertise in carbon fibers and intermediate materials, as well as its large product lineup and global sales network.
Global marketing initiatives will be supported by Teijin’s carbon fiber business, including Teijin Carbon Fibers, Inc., which plans to launch a new carbon fiber production facility in South Carolina by the end of fiscal year 2020, Teijin Carbon America, Inc., a carbon fiber sales base in Tennessee, and Teijin Carbon Europe GmbH, a core company of the carbon fiber business in Europe.
Teijin’s goal is reportedly to strengthen its carbon fiber and intermediate materials businesses to solidify its position as a leading provider of solutions for aerospace applications. The company is targeting annual sales in this field in excess of $900 million by around 2030.
“Demands for highly heat-resistant thermoset prepregs are increasing in the global aerospace industry,” says Shukei Inui, general manager of Teijin’s carbon fibers business unit. “Renegade offers well-established technologies and sales channels in this field, so we expect this acquisition to help us expand our related applications development and global business.”
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