TenCate have reached an agreement for the acquisition of Performance Materials Corporation Baycomp from Camarillo.
Although no financial details have been divulged at this stage, TenCate expects the purchase of Performance Materials Corporation Baycomp to be completed on or before April 2nd, 2012.
TenCate plans to expand the revenue potential of Performance Materials Corporation Baycomp in the near future, especially in its new market opportunities such as the oil and gas sector and the mobility sector. The PMC Baycomp technology is one of the entry keys to new – high volume – markets for affordable composite materials and is a strategically significant acquisition for TenCate. Sufficient capacity exists at PMC Baycomp to support its near term growth, at the same time TenCate will also start production of similar uni-directional (UD) tape materials in Europe, in order to prepare itself for new market opportunities in European industrial markets.
The acquired company is the result of a merger between PMC and Baycomp, founded by Saint Gobain in 1985. PMC produces moulded parts and components from thermoplastic composite materials for a wide range of applications (medical, sporting goods, transportation, automotive and electronics). Baycomp is one of the very few manufacturers of thermoplastic UD-tape materials. The Baycomp materials are especially suitable for applications in the automotive sector, oil and gas industry and other high-end industrial applications. Besides the manufacturing facilities in the US and Canada, PMC Baycomp has a representative office and R&D capability in Taiwan and a manufacturing (moulding) facility in China.
The acquisition of PMC Baycomp will complement the existing range of thermoset and thermoplastic composite materials within the existing product range at TenCate. This acquisition will largely contribute to the recent formation of the TenCate Industrial Composites market group, besides the market groups TenCate Space Composites, TenCate Aerospace Composites and TenCate Advanced Armour.