Japans Ube Industries (Tokyo; www.ube-ind.co.jp
) is buying Premium Composite Technology North America (PCTNA, Franklin, Indiana / USA) for an undisclosed sum. PCTNA is a consolidated subsidiary of Japans Toyota Tsusho, which owns 77.72%, with Toyota Tsusho America owning 22.28%. The deal, agreed on 31 January 2020, is targeted to close on 1 April 2020.
The US company mostly makes commissioned plastic compounds from non-polyamide resins for the automotive industry. It has its head office and manufacturing plant in Franklin, Indiana, and employs 35 staff (as of 31 August 2019). PCTNA posted net sales of USD 31.6m (EUR 29.2m) for the fiscal year ending March 2019.
Ube Industries said the acquisition will enable it to establish its own North American compounds manufacturing base for the first time, adding to existing bases in Japan, Spain and Thailand. The Tokyo-headquartered group added that with operations covering the four regions of Asia, Europe, Japan and North America, it will be able to offer a global supply network to OEMs and tier 1 automotive parts manufacturers. The deal will also allow it to tap into PCTNAs plastic compounding technology and expertise.