MOSCOW (MRC) -- Mitsubishi Chemical Corporation (MCC) recently decided to acquire two German carbon fiber recycling companies, CFK Valley Stade Recycling GmbH & Co. KG (CFK) and carboNXT GmbH, through its subsidiary Mitsubishi Chemical Advanced Materials AG, as a part of the company's efforts to promote the circular economy, said the company.
The acquisition is slated for completion around early August. Based on the MCHC Group's medium- to long-term basic management strategy KAITEKI Vision 30, MCC views the circular economy as a key element in its realization of KAITEKI 2, and in-house product recycling is an important initiative within this strategy.
CFK has its own network to collect leftover materials generated during the molding of intermediate materials such as carbon fiber prepreg, mainly from customers in mobility-related industries, and also draws on its advanced proprietary technology to recycle these materials into usable forms of carbon fiber. In turn, carboNXT sells these CFK-recycled products.
MCC has also acquired c-m-p GmbH 3, a carbon fiber prepreg manufacturer, as well as the Minger Group 4 of engineering plastics recycling companies. With the latest acquisition, MCC will establish a chain from the manufacture of carbon fibers and carbon fiber composites to collection and recycling of products, in Europe, following Japan, where the chain has already been established. 5 In the future, MCC will offer total solutions including product recycling to customers, by using recycled products as raw materials within the group.
Going forward, the company will continue to strengthen its capability to propose solutions to users as a leader in the carbon fiber composite industry and will contribute to the realization of a recycling-based society.
As MRC informed Mitsubishi Chemical resumed production at the end of June at the monoethylene glycol (MEG) plant in Kashima, Japan after renovations. Maintenance at this enterprise with a capacity of 300,000 tonees/year was started in mid-May of this year.
According to MRC's ScanPlast, in May of this year, the estimated PET consumption in Russia amounted to 70,170 tonnes, which corresponds to the level of consumption last year (70,450 tonnes). In total for the period January - May of this year, the estimated consumption of PET in the Russian Federation amounted to 304,310 tonnes of material. This is 3% less than in 2019.
Mitsubishi Chemical, a Japanese integrated chemical company, was formed on October 1, 1990 through the merger of Mitsubishi Kasei and Mitsubishi Petrochemical Co. Due to its wide range of activities, it is one of the ten leading chemical companies in the world.