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

Latest Release

JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST

Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST

MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST

GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST

Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST

Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST

UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST

Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST

MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST

Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST

NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST

Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST

Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST

NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST

Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST

TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST

First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST

Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST

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

More Latest Release >>

Latest Release

Related Release