in Plastics News Europe, 02-09-2019
The deal, terms of which were not disclosed, includes ASE’s two subsidiaries, Alva Confecções SA of Portugal and Alva Tunisia SA of Tunisia, Torday said in a statement 28 Aug.
Toray and Alva started acquisition talks in 2018, as part of the Japanese supplier’s bid to advance its integrated operations and enter the downstream business of cushions to extend its supply chain.
The company registered sales of over €32m last year and employs 1,030 globally.
The global airbag market is steadily growing, driven by vehicle safety regulations across the world.
In addition, according to Toray, demand for higher performance airbags is rising with the emergence of next-gen vehicles equipped with self-driving and other new technologies.