Kaneka Aerospace Takes Henkel’s Composites
The deal gives Kaneka products such as benzoxazine-based prepregs, film adhesives and infusion resins, several of which have been qualified in the aviation market. Kaneka said the addition of these products and technologies to its portfolio would further enhance its ability to penetrate the aerospace sector.
The aerospace subsidiary was formed last September following the acquisition of California-based Applied Poleramic for around $15 million. The purchase gave Kaneka access to advanced formulated resins technology used in high-performance composites, allowing it to enter the “promising” aerospace sector.
At the time of buying Applied Poleramic, Kaneka said there was rapid growth for high-performance composites in demanding aerospace applications such as engines, hot aircraft areas, rockets and launch vehicles, and predicted the sector would grow more than 10% per year within the next 10 years, or exceed $2 billion in market value.
The company added that it would continue to seek M&A and partnership opportunities for further growth with the aim of achieving more than $200 million in sales by 2025 in high-performance composites for aerospace applications.