The acquisition means Teijin will access the companies automotive composite technologies and further strengthen the companies solution development capabilities as a component supply partner of automotive OEM customers in Europe.
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
Teijin is targeting automotive composite business sales of approximately EUR 1.7 billion (USD 2 billion) by 2030.