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Teijin plans to acquire Renegade Materials Corporation in US.

M2 EQUITYBITES-February 27, 2019-Teijin plans to acquire Renegade Materials Corporation in US

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Teijin Limited (TYO:3401), a Japanese chemical, pharmaceutical and information technology company, announced on Tuesday that it has agreed to acquire Renegade Materials Corporation (Renegade), a North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry.

The shares of Renegade will be purchased by Teijin Holdings USA Inc, Teijin's holding company in the US. Financial details of this acquisition were not available.

Upon completion of the acquisition, Renegade will become a wholly-owned subsidiary of Teijin.

According to the company, this acquisition of Renegade will help it expand its related applications development and global business.

This acquisition is anticipated to be completed in spring 2019, after customary closing conditions have been satisfied, including receipt of regulatory approvals.

Teijin's main fields of operation are high-performance fibres such as aramid, carbon fibres and composites, healthcare, films, resin and plastic processing, polyester fibres, products converting and IT products

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Publication:M2 EquityBites (EQB)
Date:Feb 27, 2019
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