Mitsubishi Rayon Co. (MRC; Tokyo, Japan; www.mrc.co.jp) has executed a share sales and purchase agreement by which MRC will acquire 51% of Wethje Holding GmbH, a German company engaged in manufacturing of carbon-fiber reinforced plastic (CFRP) parts for automobile applications, with Cross Industries AG, the parent company of Wethje. Wethje shall become a consolidated subsidiary of MRC subject to fulfillment of closing conditions including approvals by appropriate authorities required in Germany and Austria. Moreover, MRC has confirmed that it will build a solid partnership with Cross by jointly owning Wethje on a long-term basis.
The European automotive industry is moving toward a full-scale adoption of CFRP parts. As an example, BMW has launched the i3 electric vehicle, which uses CFRP parts for the complete vehicle structure. This development, together with stricter environmental policies, means a further strong push towards an increasing use of CFRP technology within the automotive industry.
MRC will utilize Wethje as a development and production base for CFRP parts and will further strengthen the supply chain of the carbon fiber intermediate materials business for automobile application in Europe.
Mitsubishi Rayon to acquire majority of carbon-fiber parts specialist Wethje Holding
| By Mary Page Bailey