Evonik and Secar Team up to Create new Composites Joint Venture
Evonik Industries and Austrian based SECAR Technologie have established the LiteCon Advanced Composite Products joint venture
The aim of the newly established enterprise is to mass-produce fibre-reinforced composite components for the automotive and aviation industries. Evonik supports the new company with its materials development expertise while SECAR will bring expert capabilities in mass producing lightweight parts, this creates unique potential for developing new production technologies.
The joint venture will be headquartered in Hönigsberg. Evonik and SECAR manage the company jointly, with Evonik owning 49 percent of the shares and SECAR 51 percent. Dr. Arnim Kraatz of Evonik Industries AG and Karl Heinz Semlitsch of SECAR Technologie GmbH are the company’s managing directors.
Gregor Hetzke, president of Evonik’s Performance Polymers Business Unit said;
For years now, our products have supported efforts within the automotive and aviation industries to move toward lightweight construction, and LiteCon is the next step in our partnership with those industries, LiteCon unites our polymer expertise with SECAR’s prowess in composite development and manufacturing, so that our customers can use these synergies to their greatest possible advantage.