Mitsubishi Chemical has completed the acquisition of the PVC compounding business of Welset Plast Extrusions Private in India. The current plan is to set up a new plant in the subsidiary MCPP India Private Limited to produce automotive interior parts and thermoplastic elastomers for other applications. Production plans will begin at the end of March 2020.
Arparn Plast Compound Private Limited (representing Welset's PVC compounding business) was spun off from Welset Plast Extrusions and was acquired by Mitsubishi Chemical. It was renamed MCPP India Private Limited after the acquisition was completed.
The application of Mitsubishi Chemical's high-performance polymer products in the Indian automotive industry is expanding, and it is expected that future growth will remain stable. The company currently outsources the production of thermoplastic elastomers to India. The acquisition of Welset Plast Extrusions' PVC compounding business and the construction of new production facilities will enable Mitsubishi Chemical to upgrade its high-performance polymer supply system to meet growing demand. Welset will focus on the development and expansion of the masterbatch business.
Mitsubishi Chemical is actively pursuing mergers and acquisitions and investments in the high-performance polymer business, and is expanding globally in Asia Pacific, Europe, and North America. Currently, it has 28 production bases in 16 countries around the world. Mitsubishi Chemical has positioned MCPP India as the production base of medical PVC composite materials in the Asia-Pacific region. In addition, it will further accelerate global development by expanding the manufacturing scale of automotive thermoplastic elastomers.