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Teijin to Acquire Renegade and Expand Carbon Fiber Intermediate Material Business for Aerospace Applications
TOKYO–Teijin Limited has agreed to acquire Renegade Materials Corporation, 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 said in a press release.
Teijin expects that Renegade’s well-established proprietary technologies and capabilities in heat-resistant thermoset prepregs will help Teijin expand its business in the aerospace field, including next-generation aircraft engine parts. Teijin’s expertise in carbon fibers and intermediate materials, as well as its large product lineup and global sales network, will help Renegade’s products reach wider markets, the company said.
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, Teijin Carbon America, in South Carolina by the end of fiscal year 2020.
Teijin is strengthening its carbon fiber and intermediate materials businesses to solidify its position as a major provider of solutions for aerospace applications. Teijin is targeting annual sales in this field to exceed $900 million (U.S. dollars) by “around 2030,” the company said.
Renegade’s heat-resistant thermoset prepregs are well trusted by U.S. and European aircraft manufacturers and aircraft engine suppliers, Teijin said. 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 (www.renegadematerials.com) offers specialized knowledge of highly heat-resistant resins and provides unique thermal-cycle resistant prepregs that incorporate highly heat-resistant polyimide resin made from low-toxicity raw materials.
Teijin (www.teijin.com) is increasingly emphasizing strong, lightweight, high-performance materials that offer environmentally sensitive solutions for improved fuel efficiency. The company is focusing its carbon fiber business on the aircraft field, where it is rapidly developing midstream and downstream applications. A supplier to world-leading aircraft makers for over 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.
“Demands for highly heat-resistant thermoset prepregs are increasing in the global aerospace industry,” said Shukei Inui, general manager of Teijin’s Carbon Fibers Business Unit, in a statement. “Renegade offers well-established technologies and sales channels in this field, so we expect this acquisition to help us expand our related applications development and global business.”
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