Teijin to acquire Renegade Materials Corp.

Teijin to acquire Renegade Materials Corp.

Will expand carbon fiber intermediate material business in U.S. for aerospace applications.

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Teijin Ltd. has agreed to acquire Renegade Materials Corp., a 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.

Renegade’s products will reach wider markets thanks to Teijin’s expertise in carbon fibers and intermediate materials as well as its large product lineup and global sales network. 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 materials 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 $900 million by around 2030.

Renegade’s heat-resistant thermoset prepregs are well trusted by U.S. and European aircraft manufacturers and aircraft engine suppliers. The company was established in 1993 as a resin manufacturer and launched its thermoset prepreg business for aerospace applications under the Renegade brand in 2007. Headquartered in Miamisburg, Ohio, Renegade offers specialized know-how in highly heat-resistant resins and provides unique thermal-cycle resistant prepregs incorporating highly heat-resistant polyimide resin made from low-toxicity raw materials.

Tokyo-based Teijin is increasingly emphasizing strong, lightweight, high-performance materials that offer environmentally sensitive solutions for improved fuel efficiency. Teijin is focusing its carbon fiber business on the aircraft field, where it is rapidly developing midstream and downstream applications. A top supplier to world-leading aircraft makers for more than 30 years, Teijin is noted for its Tenax carbon-fiber-filament yarn, which is used in primary and secondary structural parts for aircraft. The company is now leveraging its intermediate material and processing technologies for next-generation aircraft applications. Tenax carbon fiber and Tenax TPUD carbon-fiber thermoplastic unidirectional pre-impregnated tape were qualified by Boeing as advanced intermediate composite materials for primary structural aircraft parts.