Teijin Ltd has completed the acquisition of automotive composite parts producer Continental Structural Plastics Holdings (CSP) Corp for US$825 million. As a wholly owned subsidiary of Teijin of Tokyo, Japan, CSP of Auburn Hills, Michigan, USA, will remain an autonomous operation. CSP's Chairman and Chief Executive Officer (CEO) Frank Macher will remain in place while Eric Haiss, former Vice President of Teijin Advanced Composites America, will be appointed as Executive Vice President. The CSP brand will be maintained.
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