Mitsubishi Chemical Corp. has announced that it is investing in an Italian supplier of automotive parts made of carbon fibre reinforced plastic (CFRP), as part of its efforts to strengthen the carbon fibre business in the US and European markets.
In a 16 Oct statement, the Japanese company said that its German subsidiary Mitsubishi Chemical Carbon Fibre and Composites GmbH had acquired a 44% equity stake in Modena-based CPC SRL from its founder.
CPC, said Mitsubishi Chemical, has technological expertise in a range of automotive component fields, including moulding of carbon fibre composite materials, and design and manufacture of moulds used to produce carbon fibre composite material parts.
Mitsubishi said the investment was being made in light of increasing interest by the automotive industry in using CFRP to develop lighter car parts. Moreover, the investment fits within its policy to strengthen production of intermediate materials.
“Based on the policy, MCC will focus on industrial sectors with growth potential, including automobiles, windmills and pressure vessels,” the company added
Mitsubishi Chemical said it was “convinced” that the acquisition would accelerate the use of its carbon fibre composite materials, through using CPC’s technologies and distribution networks in the US and European car markets.
MCC envisages boosting its consolidated sales from the carbon fibre composite materials business to YEN100bn (€750m) in 2020.