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(plasteurope) -- Strengthening its
presence in the thermoplastic composite materials and components market for
automotive, oil and gas as well as consumer electronics, Royal TenCate Advanced
Composites (Almelo / The Netherlands) in late May 2012 acquired Performance
Materials Corporation Baycomp (PMC Baycomp, Burlington, Ontario / Canada).
Financial details of the deal were not disclosed.
Under the terms of the deal, the former subsidiary of Performance Materials
Corporation (Camarillo, California / USA) will become part of a new market group
called TenCate Industrial Composites. The US arm of the new group will be headed
by former PMC Baycomp president Thomas Smith, who will also oversee operations
in Canada, China and Taiwan. TenCate Industrial Composites EMEA will become part
of TenCate Advanced Composites EMEA, which is headed by Frank
Meurs.
TenCate said its existing thermoplastic composites activities
fully complemented those of PMC Baycomp, adding that it plans to focus its
composites business on the space and aerospace markets in the future. |
