Teijin to establish TACE to enhance automotive composite business
Category: #business  By Akshay Kedari  Date: 2020-01-28
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Teijin to establish TACE to enhance automotive composite business

Teijin Limited, a technology-driven company, has announced its interest to establish TACE (Teijin Automotive Center Europe GmbH) in Wuppertal, Germany.

The center would function as a new base for Teijin to execute technical functions within its automotive composite business. These technical functions include designing, handle concept, prototyping, marketing, evaluation, and technical research to provide revolutionary automotive components as well as multi-material solutions for upgrading next-generation vehicles.

The new center will enhance multi-material capabilities for achieving high-value performance that will lead to active collaboration in its European automotive composite bases.

In addition to these technical capabilities, TACE will further develop research and marketing functions to solve challenges and gather growth opportunities through mergers and acquisitions as well as new technologies. These measures will result in the formation of cost-effective solutions, increasing productivity level as well as developing solutions of high quality and strength.

Teijin is anticipating automotive composite business sales worth over $2 Bn (€1.7 Bn) by 2030, with the help of the company’s initiatives. These initiatives include the expansion of its business offerings in the United States and China. Through these expansions, the demands for these target markets will be met and set Teijin as a global automotive solution provider.

The ongoing shift towards producing CASE (Connected, Autonomous, Shared, and Electric) automobiles has induced the transformation of business models in the automotive industry. Due to this, developing advance, lightweight, and multifunctional vehicles is at the heart of the industry to satisfy automakers’ demand in the upcoming CASE era.

Teijin became the Tier 1 supplier of multi-material automotive composite after the acquisition of CSP (Continental Structural Plastics) in 2017. In its Europe center, the French arm of CSP is set to build a sheet molding power plant.

The company has also acquired Benet Automotive of Czech Republic and Inapal Plásticos of Portugal to further upgrade business models.
 

Source credit:

https://www.manchestertimes.com/news/business/teijin-to-establish-teijin-automotive-center-europe-to-expand-conceptual/article_5cd47400-141c-5c33-89c9-7f7e6da25cb4.html

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Akshay Kedari    

Akshay Kedari

Akshay holds a Bachelor’s degree in computer engineering. Despite having a penchant for software development and the like, Akshay took to writing as a career owing to his passion for the field. Presently, Akshay writes articles for itresearchbrief.com and a few oth...

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