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

Dec 14, 2018 12:53 JST

Source: Mitsubishi Corporation

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.

Contact:

Mitsubishi Corporation
Telephone:+81-3-3210-2171 
Facsimile:+81-3-5252-7705

Source: Mitsubishi Corporation
Sectors: Engineering

Related Press Release

Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA

April 16 2024 13:36 JST

Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp

April 11 2024 12:07 JST

Mitsubishi Corporation: Sale of BMA Coal Assets in Queensland Completed

April 03 2024 18:05 JST

Fujitsu signs MoU with Mitsubishi UFJ Financial Group, Inc. to drive nature positive actions

April 01 2024 15:17 JST

Mitsubishi Corporation and 7 large international companies join forces to sponsor the creation of a global e-NG coalition

March 19 2024 15:40 JST

Nissan and Mitsubishi Corporation agree to explore new business in next-generation-mobility and energy-related services utilizing EVs

March 18 2024 16:29 JST

Mitsubishi Corp to invest in TIER IV: Transforming regional mobility with autonomous driving

March 15 2024 11:36 JST

Mitsubishi Corporation: Participation in PAK Lithium Project in Canada

March 05 2024 15:57 JST

Mitsubishi Corporation Expands its Data Center Presence with Entry into US

March 04 2024 14:27 JST

Mitsubishi Corporation's Sale of Exportadora de Sal, S.A. de C.V., a Salt Production Company in Mexico

February 26 2024 13:29 JST

More Press release >>

Latest Press Release

Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST

Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST

Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST

Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST

All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST

Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST

Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST

Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST

Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST

New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST

TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST

Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST

MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST

Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
Apr 11, 2024 17:50 JST

DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
Apr 11, 2024 15:10 JST

Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
Apr 11, 2024 13:07 JST

Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
Apr 10, 2024 16:55 JST

Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
Apr 10, 2024 13:36 JST

DENSO, Companies Initiate Demonstration to Expand Automotive Recycling Process
Apr 09, 2024 19:07 JST

Mitsubishi Power Receives Order from HK Electric for Natural-gas-fired GTCC Power Generation Equipment
Apr 09, 2024 15:04 JST

More Latest Release >>