Teijin Ltd. has agreed to acquire Renegade Materials Corp. (Renegade), a leading 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 aircrafts’ 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.
Headquartered in Miamisburg, Ohio, Renegade offers specialized knowhow in highly heat-resistant resins and provides unique thermal-cycle resistant prepregs incorporating highly heat-resistant polyimide resin made from low-toxicity raw materials.
“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. “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.”