GH Craft, which Teijin reportedly acquired in 2008, designs, prototypes, and evaluates composite materials for the aerospace, railway, and automotive applications.
“Since acquiring its North American business in 2017, Teijin has been expanding the automotive composites business,” a press release said. “However, the business has significantly fallen short of its expected profit levels due to factors such as a deterioration in the business environment due to semiconductor and labor shortages and raw material price rises.”
TIP Composite manufactures and sells composite materials for a wide range of industries, including aerospace and industria and has already collaborated on selected projects with GH Craft, Teijin said.
