MOSCOW (MRC) -- Kraul & Wilkening u. Stelling GmbH (KWST), a Hannover-based manufacturer of ethanol with a long-standing tradition, has joined into a strategic partnership with global operating conglomerate Mitsubishi Corporation (MC), said KWST in the press release.
By taking on Mitsubishi Corp. as a minority shareholder, KWST has transformed the previous existing cooperation in the area of Ethanol- procurement into a long-term strategic alliance.
The new alliance enables the still largely family-owned KWST GmbH to expand its position on the international ethanol-distribution market. It offers KWST a strong base and supports the company’s ongoing growth strategy in the area of global-integrated sourcing of ethanol and for tapping new markets. Thereby KWST can guaranty high-quality ethanol at a fair market price for its European partners.
Executive Director Ludz Wilkening said: "In order to continue our business-model and at the same time remain one of the leading suppliers of ethanol in Germany and Europe we need strong and reliable partners. With Mitsubishi Corporation we have found the ideal partner for KWST and are pleased to integrate MC in our ownership structure."
The board of directors of KWST and the existing shareholders are confident that the new, global operating partner will support the creation of a sustainable base for the long-term future of the company as well as promote its continuous development.
As MRC wrote before, Mitsubishi Gas Chemical Co. said that it has decided to discontinue its purified terephthalic acid (PTA) business. Mitsubishi currently operates a 260,000-t/y PTA plant at Mizushima, Japan, through its Mizushima Aroma joint venture with Toyobo Co.
Mitsubishi Chemical with headquarters in Tokyo, Japan, is a diversified chemical company involved in petrochemicals, polymers, agrochemicals, speciality chemicals and pharmaceuticals. The company's main focus is on three business pillars: petrochemicals, performance and functional products, and health care.