Teijin Frontier Co. Ltd. , the fiber, and products converting company under the Teijin Group, has consented to takeover J.H. Ziegler GmbH (Ziegler), a leading supplier of automotive interior materials in Germany, at an approximate cost of EUR 125 million. The takeover is scheduled to be completed in August 2018 subject to the regulatory approval.
Ziegler, founded in 1864, headquartered in Achern-Oberachern, Germany, is the innovator of advanced technologies in the fields of nonwoven seat wadding materials and sound-absorbing composite solutions.
Meeting the most stringent requirements of the appearance, haptic feedback, and usability of seat surface materials, Ziegler offers advanced nonwoven lining structures, including materials with better ventilation capabilities that eliminate wrinkles and keep the luxurious appearance of genuine leather materials.
In addition, the company produces market-leading top-quality sound-absorbing materials and nonwovens for home interior and heat insulation applications. Ziegler has five facilities globally that include three in Germany and one each in Hungary and China. Sales revenue of the company was over EUR 69 million in the year ending December 31, 2017.
Through the acquisition of Ziegler, Teijin Frontier will improve its automotive interior materials’ production and sales capabilities in Europe. Teijin Frontier is keen to optimize Ziegler’s design and production structures that meet the increasing demand for low-noise electric vehicles (EV) driving environments.
Teijin Frontier will develop innovative materials with the higher sound-absorbing property, using its ultra-fine fibers through its R&D and tap business collaboration by leveraging the production and sales facility of Continental Structural Plastics, a North American hub of the Teijin Group’s composite business including Ziegler’s sales channels to look for new businesses.