Acquisitions · Automotive composites
Teijin to buy US auto composites maker Continental Structural Plastics for $825 million
- Buyer
- Teijin (via Teijin Holdings USA) (Osaka)
- Target
- Continental Structural Plastics, Auburn Hills, Michigan
- Value
- $825M
- Status
- Agreed on September 13, 2016; closing was planned for December 2016.
- Date
- 2016-09-13
Teijin agreed to buy Continental Structural Plastics (CSP), a maker of composite parts for cars based in Auburn Hills, Michigan, for $825 million through its US subsidiary. The deal replaced a tie-up CSP had planned with Mitsubishi Rayon.
Why it matters
The deal gives Teijin a parts-making business that sells directly to US automakers, a route to use its lightweight materials in vehicles.
Sources
Kakehashi M&A News home
