Teijin Acquires US-Based Car Composites Maker for $825 Million
Teijin Ltd. agreed to acquire U.S.-based Continental Structural Plastics for $825 million to establish a base in North America for producing lightweight composites for cars. The Auburn Hills, Michigan-based supplier of glass-fiber reinforced plastic and other materials generated sales of $634 million in 2015, the Osaka, Japan-based company said in a recent statement. Teijin is betting that more stringent environmental regulations on pollution will accelerate the move toward lighter materials in cars and build a $2 billion business for automotive composites by 2030.
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