16 January 2013 13:04 [Source: ICIS news]
LONDON (ICIS)--Royal Ten Cate (TenCate) has acquired UK company Amber Composites to strengthen its foothold in the European thermoset composite materials market, the Netherlands-based industrial conglomerate said on Wednesday.
Amber specialises in thermoset composites for the automotive and industrial markets, building on the market presence of TenCate Advanced Composites, which has operations in Europe, Asia and North America, but derives a significant portion of its revenues from the US.
The company specialises in products for the aerospace, space and radar sectors, TenCate added.
“[The Amber Composites acquisition] will produce a stronger and more balanced product portfolio. It will also ensure entry into new markets, both in the US and in Europe,” the company said in a statement. No financial details were disclosed.
The deal follows TenCate’s acquisition of US composites manufacturer Performance Materials Corporation Baycomp in mid-2012.
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