- Email: [email protected]
Cytec sells Umeco Distribution to Cathy
BUSINESS
Toho Tenax establishes Singapore company
Cytec sells Umeco Distribution to Cathy
TOHO TENAX Co Ltd, the core company of Teijin’s carbon composites business, has established Toho Tenax Singapore Pte Ltd to strengthen the group’s operations in India and the ASEAN region, where the demand for carbon fibre is expected to increase rapidly.
CYTEC INDUSTRIES has sold composites distributor Umeco Distribution Ltd (formerly GPRMS Ltd) to Cathy Investments Ltd for a consideration of £5.5 million cash.
Toho Tenax expects that demand in Asia for carbon fibre will rise rapidly, especially for industrial applications such as pressure vessels, wind turbines and casings for home electronics. The new company absorbs the existing local office that was
established in 2010 and will serve as Toho Tenax’s base for developing business and sales expansion in these markets. “Market development in India, the ASEAN region and Oceania is a high priority for our growth,” reports Jun Suzuki, president of Toho Tenax.“ We are actively pursuing collaborations with local companies, aiming to quickly strengthen our presence in these fast-growing markets.” Toho Tenax; www.tohotenax.com
Toray acquires share in Plasan Carbon Composites CARBON FIBRE producer Toray has acquired a 20% interest in Plasan Carbon Composites (PCC), a manufacturer of carbon fibre parts for the automotive industry. Toray has identified the expansion of its carbon fibre composite business in the automotive market as one of its top priorities. “As we look to expand the market for CFRP automotive applications for both Class A and structural applications, we see the need for synergistic relationships and are excited about our new partnership with Toray,” explains PCC President and CEO Jim Staargaard.“ ... we believe the combination of PCC’s capabilities along with Toray’s material and processing technologies will greatly assist in that expansion.”
10
REINFORCEDplastics
“At the same time, with the industry and technologies so dynamic, we will continue to seek out the most cost effective carbon fibre technologies, as we do through the Oak Ridge Lab Consortium, to support that future growth,” he adds. Established in 2006, PCC has production facilities in Vermont and Michigan, USA. In 2010, it established a new Customer Development Center in Wixom, Michigan, introducing a proprietary high speed pressure press process for carbon fibre reinforced plastic (CFRP) Class A body panels. It will supply the 2014 Corvette Stingray hoods and two versions of removable roofs with this process from a new facility in Walker, Michigan. PCC; http://plasancarbon.com
SEPTEMBER/OCTOBER 2013
Umeco Distribution will change its name to Cathay Composites Ltd. The business, which works with Ashland Performance Materials, Jushi Group and Cytec, recorded revenues of over £31 million in 2012. Cathay Composites joins Marpex Chemicals Ltd and Wardel Chemicals Ltd in the Cathay group. “Cathay Composites is a core part of our strategy to expand into new markets and products,” says Ben Chaing, Managing Director of Cathay Investments, which is based in the UK. Cytec acquired Umeco in 2012. The company has also announced plans to consolidate
its ex-Umeco sites in the USA. Cytec will move all production operations from its Costa Mesa, Adelanto and Huntington Beach sites in California, all acquired from Umeco, into its Winona, Minnesota and Tulsa, Oklahoma locations. Approximately 120 employees will be impacted by this move. The estimated total cost of this initiative is approximately $27 million. Once completed, annual savings are expected to be $3-4 million. Final closure of the California facilities is expected by mid-2015. Cytec and its joint venture partner have also exited and shutdown their Process Materials joint venture in China. The joint venture, which served the Chinese wind market, was operated under the Industrial Materials business and was acquired as part of the Umeco acquisition. Cytec; www.cytec.com
In brief The American Composites Manufacturers Association (ACMA) and the Society for the Advancement of Material Process Engineering (SAMPE) have named their joint trade show CAMX— the Composites and Advanced Materials Expo. This new conference and exhibition, co-produced by ACMA and SAMPE, will take place for the first time next year, on 13-16 October in Orlando, Florida. It replaces both ACMA and SAMPE’s annual shows. The organisers expect that CAMX 2014 will attract over 8,500 attendees and more than 500 exhibitors.
China’s GDP growth decelerated to 7.5% in the second quarter (Q2) of 2013, one of the weakest growth rates since the global financial crisis, reports IHS Global Insight. This Q2 growth is the weakest since the third quarter (Q3) 2012, and growth coming in at under 8% for five straight quarters is a clear sign of economic distress, says IHS. Given that uncertainties remain in the domestic construction sector and with external demand, IHS expects China’s growth could slip even further to below 7.5% in the second half and whole-year growth might come in just around the targeted 7.5% or even lower.
www.reinforcedplastics.com
Toho Tenax establishes Singapore company
Cytec sells Umeco Distribution to Cathy
TOHO TENAX Co Ltd, the core company of Teijin’s carbon composites business, has established Toho Tenax Singapore Pte Ltd to strengthen the group’s operations in India and the ASEAN region, where the demand for carbon fibre is expected to increase rapidly.
CYTEC INDUSTRIES has sold composites distributor Umeco Distribution Ltd (formerly GPRMS Ltd) to Cathy Investments Ltd for a consideration of £5.5 million cash.
Toho Tenax expects that demand in Asia for carbon fibre will rise rapidly, especially for industrial applications such as pressure vessels, wind turbines and casings for home electronics. The new company absorbs the existing local office that was
established in 2010 and will serve as Toho Tenax’s base for developing business and sales expansion in these markets. “Market development in India, the ASEAN region and Oceania is a high priority for our growth,” reports Jun Suzuki, president of Toho Tenax.“ We are actively pursuing collaborations with local companies, aiming to quickly strengthen our presence in these fast-growing markets.” Toho Tenax; www.tohotenax.com
Toray acquires share in Plasan Carbon Composites CARBON FIBRE producer Toray has acquired a 20% interest in Plasan Carbon Composites (PCC), a manufacturer of carbon fibre parts for the automotive industry. Toray has identified the expansion of its carbon fibre composite business in the automotive market as one of its top priorities. “As we look to expand the market for CFRP automotive applications for both Class A and structural applications, we see the need for synergistic relationships and are excited about our new partnership with Toray,” explains PCC President and CEO Jim Staargaard.“ ... we believe the combination of PCC’s capabilities along with Toray’s material and processing technologies will greatly assist in that expansion.”
10
REINFORCEDplastics
“At the same time, with the industry and technologies so dynamic, we will continue to seek out the most cost effective carbon fibre technologies, as we do through the Oak Ridge Lab Consortium, to support that future growth,” he adds. Established in 2006, PCC has production facilities in Vermont and Michigan, USA. In 2010, it established a new Customer Development Center in Wixom, Michigan, introducing a proprietary high speed pressure press process for carbon fibre reinforced plastic (CFRP) Class A body panels. It will supply the 2014 Corvette Stingray hoods and two versions of removable roofs with this process from a new facility in Walker, Michigan. PCC; http://plasancarbon.com
SEPTEMBER/OCTOBER 2013
Umeco Distribution will change its name to Cathay Composites Ltd. The business, which works with Ashland Performance Materials, Jushi Group and Cytec, recorded revenues of over £31 million in 2012. Cathay Composites joins Marpex Chemicals Ltd and Wardel Chemicals Ltd in the Cathay group. “Cathay Composites is a core part of our strategy to expand into new markets and products,” says Ben Chaing, Managing Director of Cathay Investments, which is based in the UK. Cytec acquired Umeco in 2012. The company has also announced plans to consolidate
its ex-Umeco sites in the USA. Cytec will move all production operations from its Costa Mesa, Adelanto and Huntington Beach sites in California, all acquired from Umeco, into its Winona, Minnesota and Tulsa, Oklahoma locations. Approximately 120 employees will be impacted by this move. The estimated total cost of this initiative is approximately $27 million. Once completed, annual savings are expected to be $3-4 million. Final closure of the California facilities is expected by mid-2015. Cytec and its joint venture partner have also exited and shutdown their Process Materials joint venture in China. The joint venture, which served the Chinese wind market, was operated under the Industrial Materials business and was acquired as part of the Umeco acquisition. Cytec; www.cytec.com
In brief The American Composites Manufacturers Association (ACMA) and the Society for the Advancement of Material Process Engineering (SAMPE) have named their joint trade show CAMX— the Composites and Advanced Materials Expo. This new conference and exhibition, co-produced by ACMA and SAMPE, will take place for the first time next year, on 13-16 October in Orlando, Florida. It replaces both ACMA and SAMPE’s annual shows. The organisers expect that CAMX 2014 will attract over 8,500 attendees and more than 500 exhibitors.
China’s GDP growth decelerated to 7.5% in the second quarter (Q2) of 2013, one of the weakest growth rates since the global financial crisis, reports IHS Global Insight. This Q2 growth is the weakest since the third quarter (Q3) 2012, and growth coming in at under 8% for five straight quarters is a clear sign of economic distress, says IHS. Given that uncertainties remain in the domestic construction sector and with external demand, IHS expects China’s growth could slip even further to below 7.5% in the second half and whole-year growth might come in just around the targeted 7.5% or even lower.
www.reinforcedplastics.com