Tarrytown, New York – Polyurethane fabric manufacturer Ultrafabrics has merged with Japanese company Daiichi Kasei.
DK recently increased its 16% stake in its long-standing partner Ultrafabrics to 100%, and will form a publicly traded company, Ultrafabrics Holding, that combines the two businesses later this year.
The Ultrafabrics business will continue to be run by the same management team. The company claims the merging of the businesses will allow them to “fully capture multiple synergies and growth opportunities across various targeted markets”.
The two companies had been working together for 30 years, and Ultrafabrics’ co-founder and chief executive, Clay Rosenberg, believes this makes the merger a logical step. “Everything each company does is complementary to one another, so it’s a natural progression and transition,” he said. “Our company is based on American and Japanese expertise combined and perfected, and this will make our partnership even stronger.”
Ultrafabrics specialises in polyurethane high performance fabrics. They are used in a wide range of sectors, ranging from automotive and aviation to residential and healthcare.