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Mitsubishi Corp. enters shareholder agreement with ELG Carbon Fibre
ELG Carbon Fibre Ltd. (Coseley, UK) announced Dec. 14 that Mitsubishi Corp. (MC, Tokyo, Japan) has entered into an agreement to acquire 25% of shares in ELG Carbon Fibre Ltd. from ELG Carbon Fibre International GmbH (ECFI), a subsidiary of ELG Haniel GmbH (ELG, Duisburg, Germany). The agreement is subject to regulatory approval and other closing conditions.
ELG Carbon Fibre is engaged in reprocessing surplus carbon fiber reinforced plastic (CFRP) materials from manufacturing operations and end of life parts to produce and supply competitive, high-quality carbon fiber products to the market. The company is the first in the world to have established stable commercial production of reprocessed carbon fiber supplying to markets such as the automotive and electronics industries.
Under the new agreement, Mitsubishi Corp. will promote the sales and marketing of ELG Carbon Fibre products through Mitsubishi’s channels already engaged in the business of plastic resin sales. By uniting ELG’s technology and Mitsubishi’s global network and broad interface with different industries, the two companies aim to enhance the global business development and provide a reliable supply of reprocessed carbon fiber.