Albany International has Acquired CirComp GmbH for Expansion of the High Performance Composite Components
Albany International has announced its acquiring of CirComp GmbH. Dr. Ing. Ralph Funck is the founder of the German company CirComp, that specializes in designing and manufacturing customized high-performance engineered composite components for aerospace and other demanding industrial applications. The acquisition will be helpful for the portfolio of Albany as it will increase the position of the company as a leading innovator in advanced materials processing and automation and opens a geographic footprint in Europe to better serve the global customer base.
“I’m excited to welcome Dr. Funck and the CirComp team to Albany International. We are combining two great innovators of high-performance engineered composite component design and technology, both with strong capabilities in proprietary automated manufacturing process development. CirComp will be a compelling addition to Albany’s current portfolio,” said Olivier Jarrault, Albany’s President and CEO. “Together we will be able to leverage our combined know-how, accelerating our technology development in thermoplastic composites and expanding our offering of innovative composite solutions to our customers.”
Dr. Ing. Ralph Funck, Managing Director for CirComp GmbH said, “We are extremely pleased to be joining Albany International Corporation, as part of their Engineered Composites Group. Albany International will enhance CirComp’s ongoing growth plans, supported by their global reach and strong customer relationships. Together we will strengthen one another’s advanced materials and engineered product capabilities. We envision significant strategic benefits from this combination, allowing us to even better serve our customer’s needs. Our employees and management team are looking forward to joining the Albany organization and working together for continued growth and success.”
Today, most of the end-use industries are generating greater demand for high-performance thermoplastics filled with fibers in order to address the varied requirements including strength.
As per a report published by Stratview Research, HPTP composites have already earned a largely unheralded but a significant place in the family of thermoplastic composites. The market for high-performance thermoplastic composites is extrapolated to grow at a higher pace (5.7% vs 4.1% CAGR, 2019-2024) than the other thermoplastic composites (standard thermoplastic composites and engineering thermoplastic composites), catching the attention of the market players to increasingly participate in the market.
Source: Albany International