Japan’s Toray Industries, the world’s largest maker of carbon fibre composite materials, is to acquire TenCate Advanced Composites from the Netherlands-headquartered Koninklijke Ten Cate group for €930m, as it looks to increase its carbon fibre business.
Toray has a strong position in the aerospace market. However, the company believes that, with the expected rise in the aerospace industry’s demand for thermoplastic prepreg, acquiring TenCate will position it to meet demand for thermoplastics in small- and medium-sized mass-produced aircraft.
Toray also noted the growing potential of thermoplastics in the automotive sector as an incentive to acquire TenCate.
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