The producer of advanced fibers and composites, Teijin Ltd., Tokyo/Japan, announced that it has agreed to wholly acquire Benet Automotive s.r.o., Mlada Boleslav/Czech Republic, a leading automotive composite and component supplier from Jet Investment, a.s., Brno/Czech Republic. Terms of the acquisition are not being disclosed.
Benet is a supplier of composite components to the automotive industry, offering advanced technologies for carbon- and glass-fiber-reinforced plastic molding, as well as the painting and assembly of vehicles. The company specializes in reinforced reaction injection molding (RRIM), a low-pressure process using polyurethane; and both conventional autoclave and resin transfer molding (RTM). Benet has 3 facilities in Czechia and 1 in Germany to serve European automotive OEMs including Volkswagen, Mercedes, BMW, Audi and Skoda. The company had 720 employees and recorded sales of EUR 35.2 million in fiscal 2018.
Teijin is growing its automotive composites business with proprietary lightweight, high-performance materials, and superior design capabilities, to become a multi-material component supply partner of automotive OEM customers served by Teijin hubs in Europe, North America and Asia. In Europe, Teijin acquired Inapal Plásticos SA, Leça do Balio/Portugal, a leading automotive-composite supplier in Portugal, in August 2018; and is installing a glass- and carbon-fiber sheet-molding-compound line in the French facility of Continental Structural Plastics, a world leader in automotive composites based in North America, which Teijin acquired in 2017.
Teijin is targeting automotive composite business sales of approx. EUR 1.7 billion by 2030.