Mitsubishi buys German automotive composite-part supplier

By Frank Esposito
Senior Staff Reporter

Published: August 15, 2014 12:55 pm ET
Updated: August 15, 2014 12:58 pm ET

Image By: Wethje Carbon Composites

Related to this story

Topics Automotive Mergers & Acquisitions Composites
Companies & Associations

Japanese materials firm Mitsubishi Rayon Co. Ltd. (MRC) has acquired a majority stake in Wethje Holding GmbH, a German producer of carbon-fiber-reinforced plastics (CFRP) for the auto market.

Wethje currently is owned by Austrian industrial form Cross Industries AG. No purchase price for the 51 percent stake in Wethje that MRC is buying was included in an Aug. 15 news release announcing the deal.

Cross — based in Wels, Austria — employs 3,900 and posted sales of more than $1.1 billion in 2013. Separate employee and sales totals for Hengersberg, Germany-based Wethje were unavailable.

In the release, officials with Tokyo-based MRC said that the European auto industry, with its innovative center in Germany, “moves towards a full-scale adoption of CFRP parts.”

As an example, officials cited BMW’s 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,” they said.

Wethje was founded in 1979 and uses both autoclave technology on small scale production and RTM technology for mid-scale serial production, MRC officials said, adding that MRC “will build a solid partnership with Cross by jointly owning Wethje on a long-term basis.”

MRC will use Wethje as a development and production base for CFRP parts and will further strengthen the supply chain of the carbon fiber intermediates business for auto applications in Europe, officials said.

MRC employs more than 9,000 worldwide. Its plastic products include acrylic resin and sheet.


Comments

Mitsubishi buys German automotive composite-part supplier

By Frank Esposito
Senior Staff Reporter

Published: August 15, 2014 12:55 pm ET
Updated: August 15, 2014 12:58 pm ET

Post Your Comments


Back to story


More stories

Image

Haitian builds system for Renault's new China auto assembly plant

April 24, 2015 11:10 am ET

A late-comer to the world's largest auto market, French carmaker Renault SA is currently building its first factory in China.    More

Image

Eriks NV buys two US polymer companies

April 24, 2015 10:38 am ET

Dutch company Eriks NV is expanding its reach in the North American plastics sector with two acquisitions: Dallas-based Seals and Packings Inc. and...    More

Image

Jeco adds Ferry rotational molder to handle increase in business

April 23, 2015 12:27 pm ET

Jeco Plastics Products LLC is ramping up for more work, adding a new Ferry 2600 rotational molder that will provide more capabilities.    More

Image

Engel, VW working on joint research into high volume composites in auto

April 23, 2015 9:40 am ET

Engel, the Austria-based manufacturer of injection molding machines, is building one of its largest machines for a research center looking into...    More

Image

Federal-Mogul building auto wiper blade plant in Romania

April 22, 2015 12:28 pm ET

U.S. car parts maker Federal-Mogul Holdings Corp. has unveiled plans to establish a new production facility in Ploiesti, Romania, reports local news m...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events