Sunwell has acquired COTECH, Inc to advance into the aerospace and new energy vehicle market.
Sunwell Carbon Fiber Composites Co. Ltd., a subsidiary of SWANCOR Holdings (3708), has invested in COTECH, Inc. (hereinafter referred to as COTECH) and won the majority of seats on the board of COTECH. A step forward for SWANCOR Holdings (3708) to enter the aerospace- and new energy vehicle market after environmental protection, energy-saving, green energy and carbon fiber composite materials for the wind power industry. The plan is to create a new future by expanding the company's blueprint further by committing to carbon neutrality & the creation of new materials.
COTECH is one of the few companies in Taiwan with a complete understanding of composite structure design, analysis and manufacturing. The core technology uses carbon fiber pre-impregnated fabric to pressure autoclave moulding technology, designing and manufacturing to produce lightweight, high-strength composite parts. With this investment, Sunwell Carbon fiber acquires AS9100 aerospace qualification certification and IATF 16949 automotive certification in addition to its existing ones in the carbon fiber composite material market. The deal will include a few major internationally well-known customers: aerospace manufacturers and Japanese automakers. Combining the COTECH rich product development experience, technology, and patents to Sunwell's current product range completes the company's multiple high-value market strategy layout.
The increasing global focus on carbon neutrality and competition in the market SWANCOR Holdings (3708) invests in the original product research and development in line with the green circular economy and actively invests in related industries. These strategic investments into high growth markets and products with potential are committed to improving corporate governance and strengthening ESG to ensure the implementation of sustainable business operation.
About Swancor Holdings
SWANCOR Holdings (TWSE: 3708) is a leading advanced materials and composites company. SWANCOR is committed to environmental protection and green energy materials, including corrosion-resistant resins, wind turbine blade resins and carbon fiber composites, the market leaders in China and Asia. Formosa Plastics Corporation (TWSE: 1301) and Goldwind Technology (HKSE: 2208) are strategic partners in related fields.
About Sunwell (SWCFC)
Sunwell Carbon Fiber Composites Co. Ltd is a company that focuses on research and development and the production of lightweight carbon fiber composite materials. The main products are prepreg, thermoplastic sheet and pultruded sheet, used mainly for automotive parts and wind power blades. SWCFC has obtained the international wind power factory and the mainland major wind power customer certification. Revenue was 1.71 billion yuan in 2020, and growth is expected to continue in 2021.