Teijin Group Teijin recently announced that it has completed the acquisition of Continental Structural Plastics (CSP). The transaction value of this acquisition is US$825 million.
As a wholly-owned subsidiary of Teijin, CSP will maintain independent operations and maintain the flexibility and decision-making capabilities of its original management team to flexibly respond to the development needs of the automotive industry. Frank Macher remains the chairman and CEO of CSP, and Eric Haiss, vice president of Teijin Advanced Composites America, will serve as executive vice president of Continental Structural Plastics.
CSP is an industry leader in automotive lightweight composite materials. Because of its many award-winning materials and products, its brand has been highly recognized by the North American market and will continue to enhance Teijin’s global competitiveness.
Through this acquisition, Teijin has achieved important material synergies and developed high-performance composite material technology with CSP, including glass fiber reinforced thermosetting plastics and thermoplastics, carbon fiber, aramid fiber, and composite solutions of multiple materials.
These materials will be used to manufacture a series of lightweight components, including Class A body panels and battery carriers and other structural applications, which will help meet the new requirements of the global automotive industry's design and regulations.
Teijin will strengthen its global R&D capabilities to enable the combined company to better meet the requirements of global automakers. Teijin hopes that by 2030, sales of automotive composite products will reach US$2 billion.
“The Teijin Group’s acquisition of CSP will create an important material research and development synergy effect for Teijin.” Teijin Group President and CEO Jun Suzuki said, “The Teijin Group`s current focus is to establish a development platform for automotive composite products. Aiming to provide car manufacturers with a wider range of solutions. We will accelerate the integration with CSP to make Teijin a company that a value society needs."
"Through this acquisition, CSP will obtain the global resource support it needs to meet the growing needs of customers." CSP Chairman and CEO Frank Macher said, "Teijin is committed to supporting our focus on innovation, and we look forward to integrating existing material research and development. Experience and develop a new generation of lightweight materials for automobiles."