Teijin completes acquisition of US Continental Structural Plastics

HOUSTON (ICIS)–Japanese fibres, resins and plastics major Teijin has completed its previously announced $825m acquisition of Continental Structural Plastics (CSP), it said on Thursday.

Michigan-based CSP, with more than 3,300 employees and operations in three continents, is focused on automotive lightweight composite technologies.

With the acquisition, Teijin expects to realise, “significant materials synergies, enabling the combined companies to utilise high-performance composites technologies, including glass fibre reinforced thermosets and thermoplastics, carbon fibre, aramid fibres and multi-material hybrid composite solutions.”

“The integration of CSP into the Teijin Group creates comprehensive opportunities for significant materials and development synergies,” said Jun Suzuki, president and CEO of Teijin.

“The Teijin Group is now focused on establishing a platform for business development in automotive composite products, aiming to provide a wider range of solutions for automakers,” he added.

CSP’s CEO, Frank Macher, will continue to lead the company as a wholly-owned Teijin subsidiary. Eric Haiss, a former vice president in Teijin’s advanced composites business, will be appointed executive vice president of CSP.

The automotive industry is a major global consumer of petrochemicals which contributes more than a third of the raw material costs of an average vehicle. ICIS tracks the movement of petrochemical raw material costs in auto production both globally and regionally with the weighted ICIS Basket of Automotive Petrochemicals (IBAP).

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