Teijin to Acquire Benet Automotive to Expand European Automotive Business
TEIJIN LTD ADR (TINLY)
NASDAQ:AMEX Investor Relations:
teijin.com/ir
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Source: Business Wire
TOKYO--(BUSINESS WIRE)--Teijin Limited announced today that it has agreed to wholly acquire Benet Automotive s.r.o. (Benet), a leading automotive composite and component supplier in the Czech Republic, from Jet Investment. Terms of the acquisition are not being disclosed.Benet, headquartered in Mlada Boleslav, Czech Republic, is a tier one supplier of composite components to the automotive industry, offering advanced technologies for carbon-fiber-reinforced and glass-fiber-reinforced plastic molding, as well as the painting and assembly of vehicles. The company specializes in reinforced reaction injection molding (RRIM), a low-pressure process using polyurethane; and both conventional autoclave and resin transfer molding (RTM). Benet has three facilities in Czechia and one in Germany to serve European automotive OEMs including Volkswagen, Mercedes, BMW, Audi and Skoda. The company had 720 employees and recorded sales of EUR 35.2 million (USD 40 million) in fiscal 2018.Teijin is gr
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