Mitsubishi Chemical Advanced Materials Acquires c-m-p GmbH

Lenzburg, Switzerland, January 21, 2020 - Mitsubishi Chemical Advanced Materials AG (MCAM), a leading global manufacturer of high-performance materials, today announced that it has entered into an agreement for the acquisition of c-m-p GmbH (c-m-p) through its German subsidiary Mitsubishi Chemical Advanced Materials GmbH. The transaction is expected to close in early March 2020.

With the addition of c-m-p, both companies can further strengthen their market position in the composites world, as well as developing future composite materials. The acquired entity had been a 50:50 partnership between the original founders of c-m-p GmbH and DowAksa B.V. Through this acquisition, MCAM acquires 100% of the shares of c-m-p.

“Within Mitsubishi Chemical Advanced Materials (MCAM), the acquisition enhances our ability to produce prepreg solutions for customers in Europe, a further step in our mission of metal to plastic conversion which began more than 80 years ago”, says Michael Koch, CEO Mitsubishi Chemical Advanced Materials. “MCAM, a fully owned subsidiary of Mitsubishi Chemical Corporation (Tokyo, Japan), identified c-m-p GmbH (c-m-p) as a leader in its areas of expertise and plans to preserve and enlarge c-m-p’s unique market identity. Strategic corporate development activities, such as the c-m-p acquisition, contribute to MCAM’s ability to grow rapidly and consistently while maintaining quality and innovation”.

Following the acquisition, c-m-p can benefit from Mitsubishi Chemical’s world-wide network of industry partners, customer relationships and technology developments, while bringing new technologies, specialized skills and market expertise into the group. Through the Mitsubishi Chemical network, new materials and applications will be further developed for the aviation industry, as well as automotive, sports equipment and utility services. With the acquisition of c-m-p, Mitsubishi Chemical will become capable of producing prepreg materials (resin-coated carbon fabric) in Europe, in addition to Mitsubishi Chemical’s capabilities in Asia and USA.

“On behalf of my co-founding shareholders, Michael Juerissen and Dr. Jan Verdenhalven, I welcome Mitsubishi Chemical Advanced Materials (MCAM) as the new owner”, says Rolf Dothagen, Managing Director c-m-p GmbH (c-m-p). “Becoming an important part of the large global network of Mitsubishi Chemical will allow to develop c-m-p to the next level becoming an even stronger technical and commercial prepreg partner to its customers.”

"DowAksa is proud of being part of the c-m-p GmbH history and growth story”, says Douglas Parks, CEO DowAksa. “This announcement marks another important step in this success story. Customers, employees and stakeholders will benefit from Mitsubishi Chemical’s global reach and experience. DowAksa will continue its focus on providing innovative carbon fiber composite solutions for the global wind and automotive markets, as well as the specific needs of the Turkish aerospace/defense industry.”

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About Mitsubishi Chemical Advanced Materials

Mitsubishi Chemical Advanced Materials is a leading global manufacturer of high-performance materials in the form of semi-finished products and finished parts. The company has locations in 20 countries and more than 2’800 employees. Its specialty engineering thermoplastics and composites are superior in performance to metals and other materials and are used in a wide range of applications, primarily in the capital goods industry. The company is continuously developing new areas of applications in close cooperation with industry leaders in a broad variety of customer markets. The Mitsubishi Chemical Advanced Materials Group is well prepared to further expand its market leadership position. For more information, please visit www.mcam.com.

About DowAksa

Established in 2012, DowAksa is 50:50 joint venture between The Dow Chemical Company and Aksa Akrilik Kimya Sanayii A.Ş. Combining the strengths of both partners, the joint venture manufactures and commercializes carbon fibers and derivatives with a specific focus on the energy, infrastructure and transportation markets.

As one of the largest chemistry and science-based companies, Dow Chemical Company, based in Midland, Michigan, offers world-class capabilities and global reach along with proven technologies in the area of composites as well as formulation and technical service capabilities.

Aksa, based in Yalova, Turkey, is the world’s largest producer of acrylic fibers, a key raw material in the production of carbon fibers.

Together, Dow and Aksa share a strong focus on bringing innovations and new solutions into carbon fiber markets. Learn more at www.dowaksa.com.

About c-m-p GmbH

c-m-p GmbH is a globally active and technologically leading company, which has specialised in the development and manufacturing of highest quality, customized prepregs and textiles made of carbon and other high-performance fibers.

Founded in 2011, c-m-p – which is located in the Oberbruch Industrial Park in Heinsberg – quickly became successfully established on the market as a powerful and reliable technology partner. It has one of the most internationally experienced and distinguished teams in the industry – and thus uniquely combines the dynamics and innovative power of a young, medium-sized company with the deep industry knowledge and extensive know-how from more than 40 years of experience in the composite sector. Learn more at www.c-m-p-gmbh.de.

CONTACT:

Frank Schilling, Group CFO

e-mail: Frank.Schilling@mcam.com

Mitsubishi Chemical Advanced Materials AG

Talstrasse 70, 8001 Zurich, Switzerland

phone: +41 44 213 6666

mcam.com