Koninklijke Ten Cate NV
amsterdam : KTC

May 23, 2012 02:12 ET

Koninklijke Ten Cate NV : TenCate Advanced Composites completes acquisition of PMC Baycomp

ALMELO, THE NETHERLANDS--(Marketwire - May 23, 2012) - TenCate Advanced Composites has completed the acquisition of Performance Materials Corporation Baycomp. The acquisition of PMC Baycomp provides TenCate Advanced Composites a strong position for the growing industrial composites markets worldwide, in particular the automotive market.

PMC Baycomp has industry leading technologies for thermoplastic composite materials and components for among other automotive, oil & gas and consumer electronics. These activities will be marketed from the new market group TenCate Industrial Composites.

The market positions in thermoplastic composites of PMC Baycomp and TenCate are fully complimentary. Under the proposed structure, TenCate will globally focus its composites business into the space and aerospace markets, respectively the industrial market, besides the composites solutions for ballistic protection of persons and vehicles which TenCate Advanced Armour offers defence markets.

Thomas Smith - until recent President of PMC Baycomp - will be appointed President of TenCate Industrial Composites USA and will remain responsible for the operations in the USA (Camarillo, California), Canada (Burlington, Ontario), China (Guangzhou) and Taiwan (Taichung).

TenCate Advanced Composites EMEA, headed by Group Director Frank Meurs, will structure its organization similarly to capitalize on the automotive, oil & gas and industrial market growth opportunities within the European and Middle East regions within the new division TenCate Industrial Composites EMEA.

Scott Unger, Group President for TenCate Advanced Composites North America states: 'The timing was ideal for the acquisition of PMC Baycomp as we see very strong interest in thermoplastic composites within a variety of industrial markets. Further, the components and design centers of PMC Baycomp in Asia bring an important asset under the TenCate umbrella, which will be leveraged to support within several key developing markets in that region of the world'.

Royal Ten Cate

Almelo, the Netherlands, Wednesday 23 May 2012

Press release in PDF: http://hugin.info/130798/R/1614118/514141.pdf

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Source: Koninklijke Ten Cate NV via Thomson Reuters ONE [HUG#1614118]

Contact Information

  • TenCate (corporate)
    Frank Spaan
    Corporate Director Business Development & Investor Relations
    Telephone: +31 (0)546 544977
    Mobile: +31 (0)612961724
    Email: Email Contact

    TenCate Advanced Composites North America
    Scott Unger
    Group Director North America
    Telephone: +1 408.776.0700
    Email: Email Contact

    TenCate Advanced Composites Europe
    Frank Meurs
    Group Director Europe
    Telephone: +31.548.633.700
    Email: Email Contact