Evonik, Forward Engineering to form JV to develop fiber composite components for automotive industry

11-Mar-17

Germany-based specialty chemicals company Evonik Industries and automotive engineering company Forward Engineering have established a joint venture - Vestaro, plan to develop fiber composite components for the automotive industry. Evonik will hold 49% stake in the JV, while Forward Engineering will hold 51% in Vestaro. The core competencies of Vestaro are technology consulting and selection and adaptation of matrix formulations to meet specific customer requirements for efficient manufacturing.

Roberto Vila-Keller, head of the Crosslinkers Business Line at Evonik, said: “Vestaro is an important step in further expanding our partnership with automobile manufacturers. For many years now, we have been developing products to support their developments in lightweight construction.” Leif Ickert, General Manager of Vestaro, said: “In the joint venture, we are bundling expertise in engineering and in speciality chemicals. This means that we can offer even better tailored composite-matrix systems and even more competent service.”

Evonik is contributing its expertise in amine hardener Vestamin for epoxy resin formulations, and isocyanate Vestanat for polyurethane formulations to the material developments of the new company. Combined with the development know-how of Forward Engineering (previously the engineering division of Roding Automobile) in composite construction, the result is a unique potential for the realisation of efficient lightweight construction solutions.