TenCate Advanced Composites has finalised the acquisition of Performance Materials Corporation Baycomp.
The purchase which was announced earlier in the year has now been completed, Tencate now plan to utilise Baycomps thermoplastic composite material technologies and components for automotive, oil, gas and consumer electronics.
These activities will be marketed from the new market group TenCate Industrial Composites, under the new structure TenCate will focus its composites business into the space and aerospace markets, respectively the industrial market, besides the composites solutions for ballistic protection of persons and vehicles which TenCate Advanced Armour offers defence markets.
Thomas Smith – until recent President of PMC Baycomp – will be appointed President of TenCate Industrial Composites USA and will remain responsible for the operations in the USA (Camarillo, California), Canada (Burlington, Ontario), China (Guangzhou) and Taiwan (Taichung).
TenCate Advanced Composites EMEA, headed by Group Director Frank Meurs, will structure its organisation similarly to capitalise on the automotive, oil & gas and industrial market growth opportunities within the European and Middle East regions within the new division TenCate Industrial Composites EMEA.
Scott Unger, Group President for TenCate Advanced Composites North America states:
The timing was ideal for the acquisition of PMC Baycomp as we see very strong interest in thermoplastic composites within a variety of industrial markets. Further, the components and design centers of PMC Baycomp in Asia bring an important asset under the TenCate umbrella, which will be leveraged to support within several key developing markets in that region of the world