WETHJE
Mitsubishi Rayon acquires 51% majority stake in German carbon fibre specialist
In a deal the financial details of which were not disclosed, existing owner Cross Industries (Wels / Austria; www.crossindustries.at) plans to sell its 51% stake in Germany’s Wethje (Hengersberg; www.wethje-gmbh.com) to Mitsubishi Rayon (MRC, Tokyo / Japan; www.mrc.co.jp). The Austrian holding group currently owns 94.8% of the shares in the specialist for carbon fibre composite parts for the automotive industry.
The deal still has to meet the approval of the regulatory authorities and is expected to be wrapped up by Q4 this year. Commenting on the sale, Cross Industries said MRC’s purchase of a majority share in Wethje would drive the latter’s growth. The German company’s 350 employees are spread across two sites and last posted sales of EUR 35m. MRC – a subsidiary of Mitsubishi Chemical – has a global workforce of 9,300 and revenues of EUR 4.3 bn.
The deal still has to meet the approval of the regulatory authorities and is expected to be wrapped up by Q4 this year. Commenting on the sale, Cross Industries said MRC’s purchase of a majority share in Wethje would drive the latter’s growth. The German company’s 350 employees are spread across two sites and last posted sales of EUR 35m. MRC – a subsidiary of Mitsubishi Chemical – has a global workforce of 9,300 and revenues of EUR 4.3 bn.
07.08.2014 Plasteurope.com [228977-0]
Published on 07.08.2014
German version of this article...