Teijin Limited completed the acquisition of Benet Automotive s.r.o. (Benet), a leading automotive composite and component supplier in the Czech Republic, from Jet Investment. Teijin is targeting automotive composite business sales of approximately €1.7 billion (US$2 billion) by 2030.
Teijin will benefit from Benet’s automotive composite technologies and its well-proven supply record; these will serve as a foundation on which to further strengthen Teijin’s solution development capabilities as a component supply partner of automotive OEM customers in Europe.
Benet’s Toolshop Department creates its own tools for carbon and plastic production in-house. It specializes in construction and manufacture of moulds for pressing, foaming, injection and prototype production (artificial wood, aluminium alloys, steel, brass, composites), including manual finishing of moulds and fitting on a hydraulic horizontal press with heating plates with a closing force of 150t.
As part of its multi-material strategy to offer innovative automotive composite solutions that meet customers’ future needs for lightness, toughness, design flexibility, productivity and cost-efficiency, Teijin will leverage Benet’s involvement in existing development projects with material and molding technologies and technical team members of Teijin, Continental Structural Plastics, a world leader in automotive composites based in North America which Teijin acquired in 2017 and Inapal Plásticos SA, a leading automotive-composite supplier in Portugal which Teijin acquired in 2018.
We are growing our automotive composites business with our proprietary lightweight, high-performance materials, and superior multi-material design capabilities served by our hubs in Europe, North America and Asia. Benet Automotive’s well-established technologies and sales channels will further enhance our capabilities as a tier-one automotive supplier and help spur further innovation.—Akio Nakaishi, General Manager of Teijin’s Composites Business Unit