Sekisui Chemical to buy US aircraft component maker for $510m

Japanese chemical maker Sekisui Chemical will acquire U.S.-based aerospace component producer AIM Aerospace for $510 million, the company announced.The deal, the largest acquisition the Japanese company has ever made, is targeted at helping it expand its presence in the aircraft market using AIM's compounding technology for carbon fiber composites. It also seeks to enhance its sales of thermoplastic resin materials for aircraft components, leveraging AIM's sales channels. The merger is "an important move for us to realize growth at a new level," said Sekisui Chemical President TeijiKoge at a press conference, underlining the company's growth potential in the aerospace industry. Sekisui Chemical will acquire all the shares of AIM and its six group companies from U.S.-based equity firm Liberty Hall Capital Partners and other investors. The deal is expected to be completed later this year. Seattle-based AIM produces and sells composite materials made of thermoplastic CFRP, which makes aircraft bodies lighter. Its sales for fiscal 2018 were $178.5 million.