27 July 2007

Acquisition of composites company Phoenixx TPC (USA) by TenCate

TenCate’s Aerospace and Armour Composites group is in the final stages of acquiring the composite company Phoenixx TPC Inc. The expectation that an agreement will be reached is justified. The acquisition is subject to government approval in de United States. 

TenCate is a leading global supplier of high-grade specialist materials. Its activities are the development and production of protective and safety fabrics, composites, geosynthetics and synthetic turf. TenCate is listed on Euronext Amsterdam (www.tencate.com).

TenCate is active in aerospace and armour composites. The company is a supplier of materials to Airbus, Boeing, Embraer, Cirrus and others and is a leading technological innovator in the field of thermoplastic composites (TenCate CETEX®).

Loek de Vries (CEO TenCate) states: “This acquisition fits well into our present product / market/ technology position of the composites activities of TenCate. Phoenixx unidirectional (UD) technology will strengthen worldwide the TenCate CETEX® thermoplastic composites product line. For our aerospace business especially it represents an important factor for enhancing TenCate’s growth in this industry.”

 David Park (CEO Phoenixx) comments: “The acquisition by TenCate provides increased growth potential for our technology base. Besides aerospace this technology can create other interesting market opportunities through the global presence of TenCate. We believe our customers will benefit significantly from the added assurance and expertise that TenCate represents.” 

About Phoenixx TPC

Phoenixx TPC (Taunton, USA) is a technology leader in unidirectional thermoplastic composites. The company has developed applications in sectors such as aerospace, and oil and gas exploration. The company was founded in 1998 and acquired Phillips Petroleum thermoplastic composite processing technology in 2001.

Synergies with TenCate

UD technology is complementary to TenCate’s current CETEXâ technology base.  It will speed up the growth of the applications for our materials in future composites-driven aerospace programs. Phoenixx has an experienced management team. All key personnel from Phoenixx will remain with the company.

Other information and completion

This relatively small acquisition will not have a substantial financial impact on the outlook for our annual figures for 2007. The transaction is expected to be completed within the next few months. No financial details will be provided about the company or the acquisition.

Download: acquisition Phoenixx en
Blue fabric (Tecawork Blue 65287)