Teijin to Acquire Renegade and Strengthen Its Carbon Fiber Business

Teijin Limited has agreed to acquire Renegade Materials Corporation (Renegade), a leading North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. Renegade will become a wholly-owned subsidiary of Teijin. The shares of Renegade will be purchased by Teijin Holdings USA Inc., the Teijin Group's holding company in the United States. The acquisition is anticipated to be completed this spring after customary closing conditions have been satisfied including receipt of regulatory approvals. Teijin will benefit from Renegade’s well-established proprietary technologies and solution capabilities in heat-resistant thermoset prepregs to expand its business in aerospace field including next-generation aircraft’ engine parts. Global marketing initiatives will be supported by Teijin’s carbon fiber business, including Teijin Carbon Fibers, Inc., which plans to launch a new carbon fiber production facility in South Carolina by the end of FY 2020, Teijin Carbon America, Inc., a carbon fiber sales base in Tennessee, and Teijin Carbon Europe GmbH, a core company of the carbon fiber business in Europe. Teijin is strengthening its carbon fiber and intermediate material businesses to solidify its position as a leading provider of solutions for aerospace applications. Teijin is targeting annual sales in this field in excess of USD 900 million by around 2030. For identifying growth opportunities in the global carbon fiber market, please visit http://www.lucintel.com/carbon_fiber_market_2021.aspx