The Teijin is buying and buying again! This time to acquire Czech automotive composite parts supplier Benet
Teijin Co., Ltd. announced that it has agreed to acquire the wholly-owned Czech automotive composites and parts supplier Benet Automotive s.r.o. (Benet) from Jet Investment, and the specific terms of the acquisition have not yet been disclosed.
(Source: Benet Automotive’s official website)
According to foreign media reports, on July 3, local time, Teijin Limited announced that it has agreed to acquire the wholly-owned Czech automotive composites and parts supplier Benet Automotive sro (Benet) from Jet Investment. The specific terms of the acquisition have not yet been disclosed.
Headquartered in Mladá Boleslav, Czech Republic, Benet is a Tier 1 supplier of composite components for the automotive industry, offering advanced carbon fiber reinforced and fiberglass reinforced plastic molding technology, as well as automotive coating and assembly products. The company specializes in the development of enhanced reaction injection molding processes (RRIM, low pressure processes using polyurethane), conventional autoclaves and resin transfer molding processes (RTM). Benet has three plants in the Czech Republic and one in Germany, supplying products to European automotive OEMs such as Volkswagen, Mercedes, BMW, Audi and Skoda. The company has a total of 720 employees and its sales amounted to 35.2 million euros (about 40 million US dollars) in the fiscal year of 2018.
With its proprietary lightweight, high-performance materials and superior design capabilities, Teijin is evolving its automotive composites business and has established Teijin hubs in Europe, North America and Asia to become automotive OEMs in these regions. Customer’s composite parts supplier. In Europe, Teijin acquired Inapal Plásticos SA, Portugal’s leading auto parts supplier, in August 2018; in addition, Teijin acquired Continental Structural Plastics, the world leader in automotive composites in North America, in January 2017, and in the latter of France. Factory installed glass and carbon fiber sheet composites (GF-SMC and CF-SMC) production lines.
Strategically, Benet is close to the eastern and central European markets, with key German and other European OEMs setting up factories in the Middle East. The company has a good track record of supply, further strengthening Teijin’s solution development capabilities in Europe and expanding sales channels.
As part of its multi-material strategy, Teijin will leverage Benet’s capabilities in existing R&D projects to develop innovative chemistry with Teijin, Continental Structural Plastics’ outstanding materials and molding technology and technical teams to deliver innovative automotive composite solutions. Meet customers’ lightweight, robust, design flexibility, high productivity and cost-effective future needs. At present, Teijin plans to increase the sales of its automotive composites business to approximately 1.7 billion euros (about 2 billion US dollars, 13.74 billion yuan) by 2030.