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Carbon fiber production line SGL acquires Aldila
25 Dec '07
3 min read
The Carbon Company has signed definitive agreements to acquire Aldila Inc's interest in Carbon Fiber Technology LLC (CFT), Evanston (Wyoming), USA, a joint venture between SGL and Aldila. Since 1999, SGL Group and Aldila – the world's leading producer of composite golf shafts – each held a 50 percent stake in the joint venture.
The purchase price was agreed to be € 13 million. For SGL Group, this corresponds to less than an investment in a comparable greenfield plant, and bears the advantage of taking over an existing business and making use of a low cost and efficient infrastructure.
With an annual output of approx. 1,000 metric tons, the Evanston plant produces carbon fiber for a variety of applications, including wind power, automotive, engineering plastics and the recreation sector. The joint venture, which the Group had accounted for at equity to date, will henceforth be fully consolidated.
The acquisition of the joint venture is an integral part of the published growth strategy of SGL Group to expand the total production capacity for carbon fibers up to 12,000 metric tons by 2012. It is a key milestone in SGL Group's intention to develop the Evanston plant into a major carbon fiber production site as a complement to the Company's sites in Europe.
With the acquisition of the Aldila stake, 100% owned production capacity will increase from 500 to 1,000 metric tons. As a next step, a second production line with an annual capacity of approx. 1,000 metric tons will be built. Project start is scheduled for beginning of December 2007, with full commercial production as of second quarter 2009.
The purchase price was agreed to be € 13 million. For SGL Group, this corresponds to less than an investment in a comparable greenfield plant, and bears the advantage of taking over an existing business and making use of a low cost and efficient infrastructure.
With an annual output of approx. 1,000 metric tons, the Evanston plant produces carbon fiber for a variety of applications, including wind power, automotive, engineering plastics and the recreation sector. The joint venture, which the Group had accounted for at equity to date, will henceforth be fully consolidated.
The acquisition of the joint venture is an integral part of the published growth strategy of SGL Group to expand the total production capacity for carbon fibers up to 12,000 metric tons by 2012. It is a key milestone in SGL Group's intention to develop the Evanston plant into a major carbon fiber production site as a complement to the Company's sites in Europe.
With the acquisition of the Aldila stake, 100% owned production capacity will increase from 500 to 1,000 metric tons. As a next step, a second production line with an annual capacity of approx. 1,000 metric tons will be built. Project start is scheduled for beginning of December 2007, with full commercial production as of second quarter 2009.
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