Home / Knowledge / News / Textiles / TenCate finalizes acquisition of Composix
TenCate finalizes acquisition of Composix
01
Feb '08
Following the press release of December 11, 2007, Ten Cate Advanced Composites USA announces the closing of the acquisition of Composix Co. (Newark, Ohio, USA).

Composix is a market leader in the growing armor market in the United States. Composix produces advanced armor solutions from composite and ceramic materials for the protection of humans and vehicles, ships and aircraft.

Amongst others, Composix currently supplies US Government contractors with armor solutions for high profile military programs such as the Up Armored Humvee (HMMWV), Mine Resistant Ambush Protected Vehicle (MRAP) and the Stryker Light Armored Vehicle.

The purchase price is approx. US$ 70 million with potential for additional incentives tied to the financial performance of Composix in 2008 & 2009.

The level of investment that TenCate considers necessary for the further growth of the company in the years ahead has been one of the determining factors in the takeover price.

Total revenues 2007 for Composix were in excess of US$ 100 million and it is expected that Composix will provide an immediate accretive benefit to TenCate's earnings in 2008.

Composix' EBIT margin is comparable to that of TenCate's other composites companies. The acquisition will be financed through the credit facilities of TenCate.

As a result of the acquisition of Composix and the acquisition earlier in 2007 of Roshield (Denmark), TenCate succeeded in its strategic intentions to build a strong vehicle armor position within the USA and other global markets for vehicle armor.

Furthermore the synergistic effect between the personal and vehicle armor businesses of Ten Cate Advanced Composites and Composix strengthens Ten Cate's market position considerably in the strategically important USA Armor market, as well as in the European and Asian Armor markets

TenCate stands by its statement for 2007 made earlier that net profit (adjusted for the result on divestments) is expected to increase by at least 25%, barring unforeseen circumstances.

TenCate


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search