Dec, 14 2018 12:53 JST

Source: Mitsubishi Corporation

Mitsubishi Corporation to Participate in Carbon Fiber Reprocessing Business in the UK


TOKYO, Dec, 14 2018 - (JCN Newswire) - Mitsubishi Corporation (MC) has entered into an agreement to acquire 25% of shares in ELG Carbon Fibre Ltd. (ECF), a leading supplier of reprocessed carbon fiber, from ELG Haniel GmbH (ELG) in Germany. Closing is subject to regulatory approval and other conditions.

With 70% of global supply emanating from Japanese companies, carbon fiber is a signature product among the country's advanced technology products. It has outstanding properties, including strength 10 times that of steel with only 1/4 the weight of steel, and is utilized in industrial applications such as aircraft/aerospace and wind turbine blades. Meanwhile, as the automotive industry seeks to address challenges such as reducing emissions from internal combustion engine vehicles and increasing cruising distance of electrified vehicles through the use multi-material light weighting, the demand for carbon fiber is envisioned to increase even further. World consumption of carbon fiber, which presently stands at approximately 60 thousand metric tons is expected to grow at almost 10 percent per annum, although high production costs have been an obstacle in the way of more widespread use.

ECF is engaged in reprocessing carbon fiber reinforced plastic (CFRP) end materials to produce and supply competitive high quality carbon fiber through its own technology and know-how. ECF is the first company in the world to have established stable commercial production of reprocessed carbon fiber, supplying the automotive and electronics industries, among others. ECF, by reprocessing CFRP end materials which may otherwise be difficult to dispose of, is recovering resources and supplying sustainable carbon fiber competitively to the market, while contributing towards solving the issues faced by the automotive industry, which is a key industry for Japan. Being able to leverage MC's existing business network and expertise will enhance ECF's capacity to realize its vision.

Through the acquisition of shares in ECF, MC will be contributing to expanding the stable supply of reprocessed carbon fiber while at the same time continuing to contribute to the sustainable development of industry and the realization of a low-carbon society.


About Mitsubishi Corporation
Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.

For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.


Contact:
Mitsubishi Corporation
Telephone:+81-3-3210-2171 
Facsimile:+81-3-5252-7705
Source: Mitsubishi Corporation
Sectors: Engineering

Copyright ©2019 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

Related Press Release


Mitsubishi Corporation Completes Sale of Interest in Gregory Crinum Coking Coal Mine in Australia
March 27 2019 16:55 JST
 
Mitsubishi: Utilizing Lawson's Existing "Reverse" Logistics Network Return Service of Rental Products and Online Purchases "SMARI"
March 25 2019 12:08 JST
 
Mitsubishi Corporation, Chubu Electric Power and HICL Infrastructure Consortium Named Preferred Bidder for Offshore Transmission Asset in the UK
March 18 2019 15:50 JST
 
Nishi Nippon Railroad and Mitsubishi Corporation to Commence Commercial AI-Controlled Bus Transit Services in Fukuoka, Japan
March 13 2019 16:14 JST
 
Mitsubishi Corporation: Gas4Sea Partners and Equinor Signed an LNG Bunkering Agreement
February 19 2019 14:31 JST
 
Mitsubishi Corporation to Invest in UK Energy Technology Company OVO Group
February 15 2019 09:59 JST
 
Mitsubishi Corporation's Financial Results for the Nine Months Ended December 2018
February 05 2019 13:23 JST
 
Mitsubishi Corporation and Kaneka to Set Up New Processed Oil Products Factory in Indonesia
January 08 2019 09:29 JST
 
Mitsubishi Corporation has Reached Agreement to Sell its Interests in the Clermont and Ulan Coal Mines in Australia
December 18 2018 17:49 JST
 
Mitsubishi Corporation: Smart Meter Data Collection System 'Experiment' Launched in Hamamatsu
December 12 2018 12:20 JST
 
More Press release >>

Latest Press Release


More Latest Release >>