TenCate, a multinational company that combines textile technology with material technology to produce functional materials,has reached an agreement on the acquisition of Amber Composites, a UK-based manufacturer of thermoset composites for the industrial and automotive market.
The major portion of the global composite market consists of thermoset materials. The activities of TenCate in this market are mainly focused on aerospace, space and radome applications and within TenCate Advanced Composites concentrated in the United States of America. The company believes that the acquisition will help accelerate its activities and increase its presence in the European market
According to the company, the acquisition will produce a stronger and more balanced product portfolio, and will create a one stop shop for the US and European customers of TenCate Advanced Composites. In addition, it will also ensure entry into new markets, both in the USA and in Europe. TenCate recently announced its alliance with BASF for thermoplastic composites for the automotive market, as well as with 3M for the US tooling market aimed at expansion of its market potential for thermoset composites.
Tooling composites is one of the strengths of Amber Composites. The recent acquisition of PMC Baycomp in the US and the current acquisition of Amber Composites support the company’s expansion into new markets.