TenCate Aerospace & Armor Composites group has signed a Letter of Intent to acquire the armor company Composix Co. TenCate has been given exclusivity to conduct a final due diligence process.
The expectation is that the final share purchase agreement will be completed prior to the end of January 2008. The purchase is subject to government approval in the United States.
TenCate Aerospace & Armor Composites USA operates in the American market mainly in the field of composite materials for use in civil and military aviation, aerospace and industrial applications and in the armor market for personal, vehicle, aircraft and watercraft protection. (Anti-Ballistics).
In addition, through TenCate Protective Fabrics USA, TenCate has a major share in the market for fire resistant, protective fabrics used in the production of military uniforms.
TenCate is a leading manufacturer worldwide of high-grade specialized materials. Its activities are concentrated in the field of protective and safety fabrics, composite materials & armor, geotextiles and synthetic turf. TenCate is listed on the NYSE Euronext Amsterdam Stock Exchange.
Market for Armor Materials: TenCate is a one of the foremost companies in Europe in the field of personal protection and vehicle armor. The company is a supplier of high-grade composite armor products to both military and commercial markets.
The Danish company Roshield was acquired by TenCate at the beginning of 2007 and has considerably strengthened TenCate's position within the European vehicle market. In addition to the European market, TenCate Advanced Armor-Europe is also focused on the Asian and South American markets.
TenCate Advanced Composites USA has a growing market share supplying armor for personal, vehicle, aircraft and watercraft protection for the US Military and associated contractors.
TenCate wishes to expand its position within this market - especially in the field of vehicle armor products where major modernization and expansion programs are planned for the future.
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