Kaneka Corp buys US formulated advanced resin supplier Applied Poleramic

Kaneka Corporation has acquired Applied Poleramic Inc (API), the California-based formulated advanced resin supplier in the aerospace area, for approximately $ 15 million. 

In the area of aerospace, there is a rapid growth for high performance composites in demanding applications such as engines, hot areas of the aircrafts, rockets and launch vehicles. Due to its superior properties over metal and metal alloys of: weight to strength ratio, heat-resistance and durability, Kaneka sees high growth potential in this sub-segment compared to the general structural composites market. “We anticipate this sub-segment to grow more than 10 percent annually within the next 10 years or exceed $ 2 billion in market value,” said Kaneka Corporation officials.