Mitsubishi Chemical Advanced Materials Acquires c-m-p GmbH

Lenzburg, Switzerland (ots) - 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.»

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.?. 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

Pressekontakt:

Frank Schilling, Group CFO
Frank.Schilling@mcam.com

Mitsubishi Chemical Advanced Materials AG
Talstrasse 70, 8001 Zurich, Switzerland
Phone +41 44 213 6666
mcam.com

Additional content: https://www.presseportal.de/pm/107619/4497609
OTS: Mitsubishi Chemical Advanced Materials AG

Original-Content von: Mitsubishi Chemical Advanced Materials AG, übermittelt durch news aktuell