In 2012, Cytec Industries, Inc. acquired Umeco plc (U.K.), an international provider of composite and process materials for $423.8 million. Umeco plc was into manufacturing of glass fiber, carbon fiber, and others. The acquired Umeco business was being reported partly in the aerospace materials segment, while offering significant opportunities for growth and value creation, particularly in industrial composites and process materials segments. This acquisition expanded the reach of Cytec into the U.K. glass fiber prepreg market.
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In January 2013, TenCate acquired Amber Composites (U.K.), which serves several industries, including motorsport, automotive, aerospace, communications, marine, and wind energy. The acquisition of Amber Composites helped accelerate TenCate's thermoset composites activities in the European market, and in the industrial and automotive composites, tooling materials, and aerospace market. This acquisition also helped meet the European glass fiber prepreg market demand.
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Tencate had previously acquired Performance Materials Corporation (PMC) Baycomp in May 2012. The acquisition of PMC Baycomp helped TenCate to build a stronger position in the growing industrial composites markets worldwide, particularly in the automotive market. This move indirectly helped in enhancing the prepreg segment (including fiberglass prepreg) of TenCate.
The major participants in the Global glass fiber prepreg market are Hexcel Corporation (U.S.), Cytec Industries. Inc. (U.S.), Gurit Holding AG (Switzerland), SGL Group, Toray Industries, Inc. (Japan), TenCate Advanced Composites (Netherlands), Axiom, Inc. (U.S.), Mitsubishi Rayon Co., Ltd. (Japan), and Teijin Limited (Japan).
