Teijin has announced it has completed the acquisition of Benet Automotive, a leading automotive composite and component supplier in the Czech Republic, from Jet Investment.
Teijin will benefit from Benet’s automotive composite technologies and its well-proven supply record, which will serve as a solid foundation on which to further strengthen Teijin’s solution development capabilities as a component supply partner of automotive OEM customers in Europe.
As part of its multi-material strategy to offer innovative automotive composite solutions that meet customers’ future needs for lightness, toughness, design flexibility, productivity, and cost-efficiency, Teijin will leverage Benet’s involvement in existing development projects.
Teijin is targeting automotive composite business sales of approximately €1.7 billion by 2030.
Akio Nakaishi, General Manager of Teijin’s Composites Business Unit, said: “We are growing our automotive composites business with our proprietary lightweight, high-performance materials, and superior multi-material design capabilities served by our hubs in Europe, North America, and Asia.”
“Benet Automotive’s well-established technologies and sales channels will further enhance our capabilities as a tier-one automotive supplier and help spur further innovation.”
Kamil Suchan, CEO of Benet Automotive, said: “We believe that it is a good step for us, primarily because under Teijin’s management we will be part of one of the world’s most important global players in high-tech composite products for the automotive industry.”