[Integrated] Teijin completed the acquisition of CSP's automotive composite product sales and strived for 2 billion US dollars

Teijin Group official website released on January 5, said that after nearly four months of operation, on January 3, 2017 in the United States to complete the full acquisition of the United States CSP company (Continental Structrural Plastics) all the procedures, the purchase amount of 8.25 One hundred million U.S. dollars.

Given that CSP has a high degree of recognition in the US automotive market, Teijin Group will maintain the original name of CSP as a core company in its high-performance composite materials business and continue to expand its influence in the US market.

Frank Macher, former chairman and president of CSP, will remain in office and retain his original position. The vice president is Eric Haiss, vice president of the former Teijin Advanced Composites (USA).

After the acquisition is completed, CSP will become a wholly-owned subsidiary of Teijin Group. Teijin Group will have a more complete high-performance composite product technology system, including thermoset/thermoplastic glass fiber composite technology, a full range of glass fiber/carbon fiber / Aramid and its composite products, multi-purpose A-type composite panels and so on. The Group will use the US market as a springboard to fully integrate the markets of Europe, Japan and other Asian regions, and become a first-class supplier of automotive lightweight composite materials solutions. It will strive to increase the sales of automotive composite materials products to 2 billion by 2030. Dollars.

Source: China International Composite Exhibition Organizing Committee