Cytec Industries Inc has acquired an equity position in Penso Holdings Ltd, a composite part manufacturing company based in Coventry, UK.

The companies have also signed a joint agreement to develop fast-curing, composite product and cost-efficient composites processing technologies such as a variation on hot compression molding, to accelerate the adoption of composite parts in serial automotive applications.  

 Penso is currently investing in setting up automated capabilities to produce composite parts in large volumes for transportation applications including serial automotive and rail.

‘This alliance with Penso strengthens our ability to jointly tailor materials, design and manufacturing technologies to maximize composite parts performance while minimizing finished part cost, and further establishes our companies as key partners to automotive and other industrial sectors OEMs for composites-intensive new programs,’ said Markus Aschauer, vice president of Cytec Industrial Materials.

This story is reprinted from material from Cytec Industries Inc, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.