Mitsubishi Chemical Corporation plans investment in Italian aluminium auto component maker
Tokyo’s Mitsubishi Chemical Corporation (MCC) has announced plans to invest in the Italian automobile component manufacturer and seller CPC S.R.L. The decision can be seen as part of Mitsubishi Chemical’s efforts to strengthen business position in the U.S. and European markets. MCC subsidiary Mitsubishi Chemical Carbon Fiber and Composites GmbH recently acquired a 44 per cent equity stake in the carbon fibre and aluminium composite auto component making enterprise from its founder.
Globally, the demand for carbon fibre and aluminium composites is increasing for making fuel-efficient, lightweight cars. MCC being a player in this promising sector aims to capture the top share of the market by providing optimal solutions to customers through an expansive coverage across its entire business value-chain.
The company aims to boost its consolidated sales from the carbon fibre-aluminium composite materials business to 100 billion yen in 2020 under APTSIS 20, a medium-term management plan formulated by the Mitsubishi Chemical Holdings Group.
CPC is engaged in the manufacture and sales of automobile components made of carbon fibres and aluminium composites among other metals. The company supplies aluminium casting parts and carbon fibre composite material parts to renowned automakers across the globe.
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