Chemicals company Evonik Industries and automotive specialist Forward Engineering has established a joint venture (JV) called Vestaro GmbH.
The companies plan to put in place composite solutions for the industrial mass production of fiber composite components for the automotive industry.
‘Vestaro is an important step in further expanding our partnership with automobile manufacturers,’ said Roberto Vila-Keller, head of the Crosslinkers Business Line at Evonik. ‘For many years now, we have been developing products to support their developments in lightweight construction.’
‘In the joint venture, we are bundling expertise in engineering and in specialty chemicals,’ said Dr. Leif Ickert, general manager of VESTARO. ‘This means that we can offer even better tailored composite-matrix systems and even more competent service.’
Evonik is contributing its amine hardeners for epoxy resin formulations and isocyanate for polyurethane formulations to the material developments of the new company.
VESTARO is to be managed jointly by Evonik and Forward Engineering, with Evonik holding 49% of the shares and Forward Engineering 51%. The managing directors are Dr Hans Görlitzer of Evonik Resource Efficiency GmbH and Robert Maier of Forward Engineering GmbH. The joint venture is to be based in Munich.
This story uses material from Vestaro, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.