Mitsubishi Chemical Corporation (MCC) has invested in CPC, an Italian company manufacturing and selling automobile components made of carbon fiber reinforced plastic (CFRP). The investment aims to strengthen the carbon fiber business in the U.S. and European markets.

MCC’s a wholly owned subsidiary, Mitsubishi Chemical Carbon Fiber and Composites acquired a 44 per cent equity stake in CPC. MCC aims to become a leading carbon fiber composite material maker and will consider making additional investments in CPC.

CPC owns one of the world’s largest press facilities exclusively used for pressing of composite materials that are capable of developing and molding large component materials.

Demand for CFRP has been increasing in the global automobile market amid efforts to make car bodies lighter as the world moves to toughen fuel economy regulations and reduce CO2 emissions. The use of CFRP in auto component manufacturing on a full-fledged basis has gathered momentum in view of the plastic having characteristics of being light but strong.  

MCC envisages boosting its consolidated sales from the carbon fiber composite materials business to 100 billion yen in 2020 under APTSIS 20, a medium-term management plan formulated by the Mitsubishi Chemical Holdings Group. To achieve this goal, MCC is committed to expanding its carbon fiber composite material business in industrial sectors, especially the auto parts sector in which demand for such materials is booming.