Teijin completes takeover of Czech auto component supplier Benet

Japanese group Teijin has acquired the Czech automotive composite and component supplier Benet.

Teijin will benefit from Benet’s automotive composite technologies that will serve as a solid foundation on which to further strengthen Teijin’s solution development capabilities as a component supply partner of automotive original equipment manufacturer (OEM) customers in Europe.

“We are growing our automotive composites business with our proprietary lightweight, high-performance materials, and superior multi-material design capabilities served by our hubs in Europe, North America and Asia,” said Akio Nakaishi, general manager of Teijin’s composites business unit. “Benet Automotive’s well-established technologies and sales channels will further enhance our capabilities as a tier-one automotive supplier and help spur further innovation.”

Kamil Suchan, CEO of Benet Automotive, added: “We believe that it is a good step for us, primarily because under Teijin’s management we will be a part of one of the world’s most important global players in high-tech composite products for the automotive industry.”

Teijin Group, which includes more than 170 companies and employs 20,000 around the world, is targeting automotive composite business sales of approximately 1.7 billion euros by 2030.