ALMELO, NETHERLANDS (March 27, 2:05 p.m. ET) — Dutch advanced textiles company Koninklijke Ten Cate NV has agreed to buy unidirectional tape major Performance Materials Corporation Baycomp of Camarillo, Calif.
TenCate is attracted to PMC Baycomp's rapidly growing market opportunities in oil and gas and vehicle markets, TenCate said in a March 27 news release. PMC Baycomp has enough capacity to support near-term growth and TenCate will start producing unidirectional tapes in Europe for opportunities there.
TenCate is based in Almelo, the Netherlands.
Performance Materials Corp. acquired Baycomp in 2000. The firm also production plants in Burlington, Ontario, and in China.
PMC Baycomp makes molded parts and components from thermoplastic composites for a range of applications in medical, sporting goods, transportation and electronics.
TenCate said the firm to be purchased is one of only a few specialized producers of thermoplastic unidirectional materials.
TenCate did not disclose terms of the deal, which is scheduled to close on or about April 2.
TenCate claims it is a leader in thermoplastic composites for aerospace. Demand for economical, high-performance composites in other markets is expanding rapidly.
“The great advantage of thermoplastics is that their rapid processing enables industries to use these materials in high volume manufacturing processes, wherein they can provide large cost benefits,” stated TenCate Advanced Composites group director Dave Clark in a news release.