Acquisition of European Engineering Plastics by Recycling Companies
Mitsubishi Chemical Corporation (MCC) recently decided that it will acquire two Swiss engineering plastics recyclers, Minger Kunststofftechnik AG and Minger Plastic AG (collectively, the Minger Group), through its group company Mitsubishi Chemical Advanced (MCA) as a part of the company’s efforts to promote the circular economy. The acquisition is expected to be completed by the end of February this year.
Based on the Mitsubishi Chemical Holdings (MCHC) Group’s KAITEKI Vision 30, MCC makes the circular economy a key element in its realization of KAITEKI, and plastics recycling is an important initiative within this basic policy.
The Minger Group has superior proprietary recycling technologies for engineering plastics like PEEK (Polyether Ether Ketone), PVDF (Poly Vinylidene DiFluoride) and nylon. It possesses a material collection network that spans a wide area of Europe, a track record of recycled material transactions with over 100 customers, and an established business model for recycling engineering plastics in the region.
The acquisition will allow MCC to establish an integrated business model for engineering plastics, from manufacturing to sales, machining, collection, and reuse. Going forward, the company will continue to strengthen its capability to propose solutions to users as a leader in the engineering plastics industry and will contribute to the realization of a recycling-based society.
The acquisition is not a stock acquisition; the two companies’ manufacturing facilities and other assets will be transferred to MCC along with trade rights and all other rights and obligations. It is a basic policy with 2030 goals that forms the framework for the MCHC Group’s next medium-term management plan.