Mitsubishi Chemical Acquires All Shares of CPC

Mitsubishi Chemical Group (MCG Group) has announced the successful acquisition of all shares in CPC SRL, a leading Italian company specializing in the manufacture and distribution of automotive components produced from carbon fiber reinforced plastic (CFRP). Beginning with a minority shareholding in 2017, this significant acquisition aligns with MCG Group's long-term strategic vision to further expand and develop its vertically integrated carbon fiber supply chain. The acquisition, pending regulatory approvals, is expected to be completed by the end of 2023. CFRP has attracted growing interest in the global automotive market due to its role in lightweighting vehicle bodies, which is critical for meeting strict fuel economy regulations and reducing CO2 emissions. As the automotive industry rapidly adopts CFRP in automobile components, MCG Group aims to provide customers with optimal solutions across the value chain, from component design to production. CPC possesses technological expertise and accumulated knowledge across a range of automotive component areas, including component design and simulation, molding of carbon fiber composite materials, tool and die design and manufacturing, composite painting, and sub-component assembly. MCG Group, which operates one of the world's largest press facilities with substantial component material development and molding capacity specifically for composite materials, is positioned to accelerate the use of carbon fiber composite materials such as Sheet Molding Compound (CF-SMC) and Prepreg Compression Molding (PCM) in automotive components by leveraging CPC's design capabilities, molding technologies, development and supply strength, and commercial distribution networks with European and U.S. automakers. Ralph Meier, Vice President of MCG Group Europe Specialty Materials Business Unit, stated, "This acquisition reaffirms our commitment to providing a comprehensive solution to the carbon fiber market and represents a significant step in our journey. We have had a great working relationship with CPC; this acquisition represents the next step and enables us to take our services to the next level." Source