On April 5, Mitsubishi Corporation formally completed the acquisition of a 25% stake in British carbon fiber recycling specialist ELG Carbon Fibre, and the agreement between the two parties became effective from today.
According to the contents of the agreement, Mitsubishi Corporation will use its resources to provide marketing channels for ELG's recycled carbon fiber products, and promote the global expansion of ELG's carbon fiber recycling business. After years of precipitation, ELG has acquired a more mature carbon fiber recycling technology, and Mitsubishi Corporation has a accessible global marketing network. The two sides will work together to create a stable and reliable supply chain of recycled carbon fiber and promote business development worldwide.
According to the data, ELG is the first company in the world to realize the commercial operation of recycled carbon fiber, serving customers from the fields of automotive, electronics and wind energy.
Regarding the acquisition, the general manager of ELG commented: "This demonstrates the company's goal of continuously creating value for shareholders and its determination to expand its business globally. With the strong support of Mitsubishi Corporation, the company has launched an integrated operation plan , I believe that it will be able to achieve sustainable profit growth. The signing of this agreement has introduced the company's valuable resources and further consolidated the company's market position in Asia and North America. "