January 16, 2013
ALMELO, THE NETHERLANDS (Jan. 16, 2:25 p.m. ET) — Royal TenCate NV, one of Europe’s largest composites businesses, has acquired Nottingham, England-based Amber Composites Ltd. for an undisclosed sum.
Amber specializes in thermoset composites for the industrial and automotive markets, and the Dutch-based TenCate said the deal to buy the firm would “help accelerate activities in the European market” of these materials.
In a statement TenCate said its operations in both the United States 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,” it added.
TenCate recently announced a tie-up with BASF SE for thermoplastic composites for the automotive market, as well as with 3M Co. for the U.S. tooling market, which the group said was “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,” it added.