TenCate has reached an agreement on the acquisition of Amber Composites, a UK-based manufacturer of thermoset composites for the industrial and automotive market. No financial details will be communicated regarding this transaction.
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 acquisition of Amber Composites will help accelerate activities in the European market in the field of thermoset composite materials.
The strategy of this acquisition include: TenCate composites activities originate in the Netherlands, where more than 20 years ago TenCate began the development of thermoplastic composites for the aviation industry under the brand name TenCate Cetex®. TenCate is market leader with this activity. The main advantages of thermoplastic composites are their lower process costs and faster processing time in the production of components.
As a result of the acquisition of Amber Composites, TenCate increases its presence in the market for industrial and automotive composites, tooling materials and in the aerospace market in Europe, with both thermoset and thermoplastic composites. Thermoset composites are used as an alternative for those applications that can not be met by thermoplastic composites. This creates a one stop shop for customers of TenCate Advanced Composites.
TenCate Advanced Composites in both the United States of America and Europe will profit from the acquisition of Amber Composites, which will produce a stronger and more balanced product portfolio. 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 U.S. 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 U.S. and the current acquisition of Amber Composites support the company's expansion into new markets.