DSM Dyneema Acquires Cubic Tech and Extends Dyneema® Brand into High-Performance Fabrics
The Netherlands, 13 May 2015 – DSM Dyneema, the inventor and manufacturer of Ultra High Molecular Weight Polyethylene (UHMwPE) fiber, branded as Dyneema®, today finalized the acquisition of Cubic Tech Corporation.
This privately owned company, based in Mesa (Arizona, USA), has specialized for more than 23 years in the custom design, development and production of innovative high performance ultra-lightweight flexible laminates and fabrics — most of them based on Dyneema®. Cubic Tech is focused on high-end solutions in applications as diverse as racing yacht sails, equipment and apparel for sportswear, outdoor and future soldier programs as well as emergency medical equipment. Terms of the acquisition will not be disclosed.
The acquisition of Cubic Tech reinforces the position of Dyneema® as one of the leading brands of ultra high performance materials. It broadens DSM Dyneema’s product portfolio, provides it with downstream knowledge complementary to its own in the processing of UHMwPE fiber, tape and production of uni-directional (UD) fabrics, and enhances the company’s innovation pipeline. The acquisition of Cubic Tech accelerates DSM Dyneema’s entry into the performance apparel markets and will add important new revenue streams and developments in existing markets as well as creating access to several new applications.
Adding Cubic Tech to its portfolio also strengthens DSM Dyneema’s commitment to be a leader in offering sustainable solutions, enabling the replacement of traditional materials with new and innovative products that are lighter, stronger, more durable, and which have reduced environmental impact.
“The acquisition of Cubic Tech is an important part of our strategy to create, and bring to market, products and services that improve the quality of life while enabling our customers to operate their businesses more successfully,” says Gerard de Reuver, President of DSM Dyneema. “We have worked closely with Cubic Tech as a valued customer for many years, so we know that the two companies have a shared passion for innovation. I believe Cubic Tech’s way of working, its solutions-oriented and tailored approach to developing products for its customers, is in the spirit of the DSM Dyneema philosophy ‘With you when it matters.’”
Cubic Tech’s technology has been developed and refined over two decades of research and development, originating with the development of racing sails used in the America’s Cup in 1992.
“Cubic Tech’s philosophy is very akin to our own, with a fundamental belief in extremely lightweight and strong constructions,” Jeff Turner, VP Strategy of DSM Dyneema, added.
“It is therefore a natural extension of the Dyneema® value proposition. Cubic Tech has some exciting technology, and with the addition of DSM Dyneema’s application development, operational excellence and marketing competences we expect to accelerate these developments into new areas for DSM Dyneema. We also provide the stability and strength that Cubic Tech’s customers seek in order to take their projects forward.”
Cubic Tech will be fully integrated into DSM Dyneema and all employees of Cubic Tech are being invited to stay on after the acquisition.