Kaneka Has Agreed To Acquire A U.S. Formulated Advanced Resin Supplier Making A Full-scale Entry Into Aerospace Business

Stocks and Financial Services Press Releases Wednesday June 21, 2017 15:11
PASADENA, Texas--21 Jun--PRNewswire/InfoQuest

Kaneka Corporation's (Osaka, Japan, President: Mamoru Kadokura) wholly owned subsidiary, Kaneka Americas Holding, Inc. ("KAH") (Texas, USA, President: Kazuhiko Fujii) and Applied Poleramic Inc. ("API") (California, USA, President: Brian S. Hayes), a formulated advanced resin supplier in the aerospace area have agreed to KAH's acquisition of all of API's shares and have entered into a Stock Purchase Agreement on June 19, 2017.   KAH shall acquire all of API's stocks* for approximately USD 15 Million and API will become a consolidated subsidiary of KAH.

(*) The acquisition is subject to approval by the Committee of Foreign Investment in the United States and satisfaction of other customary conditions.

In the area of aerospace, there is a rapid growth for high performance composites in demanding applications such as engines, hot areas of the aircrafts, rockets and launch vehicles. Due to its superior properties over metal and metal alloys of: weight to strength ratio, heat-resistance and durability, Kaneka sees greater growth potential of this sub-segment than in the general structural composites market. We anticipate this sub-segment to grow more than 10% annually within the next 10 years or exceed USD 2 billion in market value.

Established in 1992,   API possesses formulated advanced resin technology used in high performance composites.   API has been a strategic supplier of high performance composites to OEM's and their subcontractors. Kaneka currently also supplies high performance materials such as Polyimide films (Apical®) and resin modifiers (Kane Ace® MX) to the same key end customers. Kaneka sees the acquisition of API as a way of achieving an accelerated synergistic growth through the integration of advanced core technologies from both companies.

After the acquisition of API, Kaneka will continue to seek M&A and partnership opportunities to further strengthen growth, sales and market position of high performance composites in the area of aerospace.   By 2025, Kaneka aims to achieve more than USD 200 Million in sales. Growth will be achieved by fully utilizing and uniting   Kaneka global resources in corporate research, product research, and product development; located in institutes and research centers throughout Japan and North America.

About Applied Poleramic Inc.
Headquarters: Benicia, California
Business: Manufacture and sales of formulated resins for infusion molding and prepreg used in aircrafts etc.
Representative: Brian S. Hayes, President & CEO
Established: 1992
Capital: US $619,000
Contact Information
Sue Zelasko
+ 1 (510) 996-3537
Sue.Zelasko@kaneka.com
Logo - https://mma.prnewswire.com/media/524922/Kaneka_Americas_Holding_Inc___Logo.jpg

Latest Press Release

USD120,000 at stake in CIMBs 3D Conquest to unearth ASEANs top #digital talents Competition sets path for nurturing crucial skills in data science, FinTech and coding among tertiary students

CIMB Group Holdings Berhad ("the Group" or "CIMB") has launched the CIMB 3D Conquest, a competition that aims to identify and attract ASEAN's top creative, young digital talent with an agile and entrepreneurial mindset. Open to all tertiary students, the...

Allianz to become Worldwide Olympic Insurance Partner

The International Olympic Committee (IOC) and Allianz today announced that the insurer will join the "Worldwide Olympic Partner" (TOP) Programme in 2021. Through this sponsorship agreement, Allianz will work with the IOC to provide innovative and...

BYFX Global Co., Limited Announces Business Launch

BYFX Global Co., Limited (BYFX Global) today announced the launch of its retail and institutional business -- offering clients around the globe top-tier liquidity and online OTC trading for Spot FX and Spot Bullion[1]. Striving towards financial...

2018 Robot World to Suggest Direction for the Fourth Industrial Revolution

Showcasing the latest robot technologies from around the world, the 2018 Robot World will be held at KINTEX, Korea from October 10-13, 2018. The Robot World (eng.robotworld.or.kr/wp), celebrating its 13th anniversary this year, consists of four main...

ชวนผู้ประกอบการเรียนรู้เส้นทางความสำเร็จของสตาร์ทอัพแอปพลิเคชัน เคลมดิ อังคาร 25 ก.ย. นี้

ตลาดหลักทรัพย์ฯ ขอเชิญผู้ประกอบการ Social Enterprise (SE) SMEs และ Startup ร่วมอบรมครั้งพิเศษในโครงการ SET Social Impact Gym หัวข้อ "Fintech vs Social Startup... Lesson Learned..." พบกับสตาร์ทอัพเจ้าของแอปพลิเคชัน "เคลมดิ" (Claim Di)...

Related Topics