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Sumitomo Bakelite acquires Neopreg
The Sumitomo Bakelite Group announces the acquisition of Neopreg AG, a Swiss producer of long fiber thermoset composites marketed under the trade names Kinel and Neonite.
Neopreg, based in Gelterkinden, has unique technology for producing these composites that complements technologies used by Sumitomo's existing specialty composites business.
Neopreg will be integrated into Vyncolit N.V., Sumitomo's subsidiary that produces moldable composites in Europe, but will retain its name. Henny van Dijk, President of Vyncolit N.V., has assumed leadership since February 19, 2007.
Shigeru Hayashi, Senior Managing Executive Officer for Sumitomo Bakelite's High Performance Plastics division, stated, “This acquisition signals Sumitomo's commitment to further develop our specialty composites business to take advantage of new market opportunities. Neopreg technology provides a strong platform for global growth in this sector. Our customers will benefit from the synergies between the two product lines, which will also spark new materials innovation."
Through Sumitomo Bakelite's global marketing, sales and distribution infrastructure, customers will receive greater access to long fiber products, produced with Neopreg's unique and environmental friendly production technology ensuring consistent high quality. Combining Sumitomo Bakelite's expertise, and R&D capability, with Neopreg's technology, will result in a wider product portfolio offering customers additional choices.
