3M sells composites to Cytec

3M sells composites to Cytec

industry Teijin buys aramid producer Twaron Products JAPANESE company Teijin Ltd has completed its acquisition of aramid fibre producer Twaron Produc...

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industry

Teijin buys aramid producer Twaron Products JAPANESE company Teijin Ltd has completed its acquisition of aramid fibre producer Twaron Products BV from Accordia. Twaron Products has been renamed Teijin Twaron BV. Teijin says that it will invest in

the Netherlands, and sales offices in Germany, USA, Brazil and Singapore. The business has sales of around +%I?00million and around 950 employees. Composites are one application area for its products.

The acquisition is part of Teijin’s strategy to develop its high performance fibre business globally. Twaron Products; tel: +31-26366-2423; fax: +31-26-366-5393; e-mail: [email protected].

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3M sells composites to Cytec CYTEC INDUSTRIES Inc has acquired the assets of 3M’s composite materials business for cash. Other terms of the deal have not been disclosed. 3M’s composites business had sales of US$ 15 million last year. Cytec Fiberite, a subsidiary of Cytec industries, specialises in advanced composite materials for the aerospace market. The company says its aerospace composites product range will be enhanced by the compleand mentary technologies it is aircraft qualifications acquiring from 3M. The deal will also give Cytec a position in the industrial composites sector, which will strengthen its non-aerospace composites business. Cytec Industries is speciality chemicals and materials company with sales in 2000 of $1.5 billion, of which Cytec Fiberite’s sales were $415 million. It is a leading supplier of aerospace adhesives and advanced composites for the aerospace industry. Cytec’s growth strategies are based on developing technologically advanced customer solutions for global markets including plastics, industrial coatings, mining, water treatment and aerospace. Cytec Industn’es; www.cytec.com.

extra production capacity to meet future demand for aramid yarn. The financial terms of the deal have not been disclosed. Twaron Products, based in Arnhem, the Netherlands, has three production facilities in

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