OTS - Mitsubishi Chemical Advanced Materials Acquires c-m-p GmbH (part 1)
2020. January 21. 09:38
Lenzburg, Switzerland, 21 January, 2020 (APA/OTS) - Mitsubishi
Chemical Advanced Materials AG (MCAM), a leading global
manufacturer of high-performance materials, today announced that it
has entered into an agreement for the acquisition of c-m-p GmbH
(c-m-p) through its German subsidiary Mitsubishi Chemical Advanced
Materials GmbH. The transaction is expected to close in early March
2020.
With the addition of c-m-p, both companies can further
strengthen their market position in the composites world, as well
as developing future composite materials. The acquired entity had
been a 50:50 partnership between the original founders of c-m-p
GmbH and DowAksa B.V. Through this acquisition, MCAM acquires 100%
of the shares of c-m-p.
"Within Mitsubishi Chemical Advanced Materials (MCAM), the
acquisition enhances our ability to produce prepreg solutions for
customers in Europe, a further step in our mission of metal to
plastic conversion which began more than 80 years ago", says
Michael Koch, CEO Mitsubishi Chemical Advanced Materials. "MCAM, a
fully owned subsidiary of Mitsubishi Chemical Corporation (Tokyo,
Japan), identified c-m-p GmbH (c-m-p) as a leader in its areas of
expertise and plans to preserve and enlarge c-m-p's unique market
identity. Strategic corporate development activities, such as the
c-m-p acquisition, contribute to MCAM's ability to grow rapidly and
consistently while maintaining quality and innovation".
Following the acquisition, c-m-p can benefit from Mitsubishi
Chemical's world-wide network of industry partners, customer
relationships and technology developments, while bringing new
technologies, specialized skills and market expertise into the
group. Through the Mitsubishi Chemical network, new materials and
applications will be further developed for the aviation industry,
as well as automotive, sports equipment and utility services. With
the acquisition of c-m-p, Mitsubishi Chemical will become capable
of producing prepreg materials (resin-coated carbon fabric) in
Europe, in addition to Mitsubishi Chemical's capabilities in Asia
and USA.
"On behalf of my co-founding shareholders, Michael Juerissen
and Dr. Jan Verdenhalven, I welcome Mitsubishi Chemical Advanced
Materials (MCAM) as the new owner", says Rolf Dothagen, Managing
Director c-m-p GmbH (c-m-p). "Becoming an important part of the
large global network of Mitsubishi Chemical will allow to develop
c-m-p to the next level becoming an even stronger technical and
commercial prepreg partner to its customers."
"DowAksa is proud of being part of the c-m-p GmbH history and
growth story", says Douglas Parks, CEO DowAksa. "This announcement
marks another important step in this success story. Customers,
employees and stakeholders will benefit from Mitsubishi Chemical's
global reach and experience. DowAksa will continue its focus on
providing innovative carbon fiber composite solutions for the
global wind and automotive markets, as well as the specific needs
of the Turkish aerospace/defense industry."
Further information can be obtained from:
Frank Schilling, Group CFO
Frank.Schilling@mcam.com
Mitsubishi Chemical Advanced Materials AG
Talstrasse 70, 8001 Zurich, Switzerland
Phone +41 44 213 6666
mcam.com
- Picture is available at AP Images (http://www.apimages.com) -
About Mitsubishi Chemical Advanced Materials
Mitsubishi Chemical Advanced Materials is a leading global
manufacturer of high-performance materials in the form of
semi-finished products and finished parts. The company has
locations in 20 countries and more than 2'800 employees. Its
specialty engineering thermoplastics and composites are superior in
performance to metals and other materials and are used in a wide
range of applications, primarily in the capital goods industry. The
company is continuously developing new areas of applications in
close cooperation with industry leaders in a broad variety of
customer markets. The Mitsubishi Chemical Advanced Materials Group
is well prepared to further expand its market leadership position.
For more information, please visit www.mcam.com
About DowAksa
Established in 2012, DowAksa is 50:50 joint venture between The
Dow Chemical Company and Aksa Akrilik Kimya Sanayii A.Ş. Combining
the strengths of both partners, the joint venture manufactures and
commercializes carbon fibers and derivatives with a specific focus
on the energy, infrastructure and transportation markets.
As one of the largest chemistry and science-based companies,
Dow Chemical Company, based in Midland, Michigan, offers
world-class capabilities and global reach along with proven
technologies in the area of composites as well as formulation and
technical service capabilities.
Aksa, based in Yalova, Turkey, is the world's largest producer
of acrylic fibers, a key raw material in the production of carbon
fibers.
Together, Dow and Aksa share a strong focus on bringing
innovations and new solutions into carbon fiber markets. Learn more
at www.dowaksa.com
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