Essen, Germany — Evonik Industries and Forward Engineering have set up a joint-venture to speed the adoption of polyurethane composites in the automotive industry.
The two firms have set up a company called Vestaro which will concentrate on technology consulting and selection and production of matrix formulations to meet customer requirements for efficient manufacturing, the companies said.
"In the joint-venture, we are bundling expertise in engineering and in specialty chemicals. That means we can offer even better tailor composite-matrix systems and more competent service," said Leif Ickert, Vestaro general manager.
Evonik is contributing its expertise in amine hardeners for epoxy resin formulations and Vestanat isocyanate for polyurethane formulations. Forward Engineering, previously the engineering division of Roding Automobile, is providing development know-how in composite construction.
The new company will be managed jointly by the companies with the Evonik holding 49% of the shares in Forward Engineering 51%.