TenCate have reached an agreement on the acquisition of UK based Amber Composites Ltd. No financial details of the transaction have been provided.
Amber Composites was founded in 1988 to develop and manufacture high performance composite prepreg, which was still in its infancy and the early team was involved in developing some of its first commercial applications.
TenCate will increases its presence in the market for industrial and automotive composites, tooling materials and in the aerospace market in Europe, with both thermoset and thermoplastic composites. Thermoset composites are used as an alternative for those applications that can not be met by thermoplastic composites. This creates a one stop shop for customers of TenCate Advanced Composites.
TenCate Advanced Composites in both the United States of America and Europe will profit from the acquisition of Amber Composites, which will produce a stronger and more balanced product portfolio. It will also ensure entry into new markets, both in the USA and in Europe.
TenCate recently announced its alliance with BASF for thermoplastic composites for the automotive market, as well as with 3M for the US tooling market aimed at expansion of its market potential for thermoset composites.