Mitsubishi Chemical Holdings Corp. said Tuesday that it will acquire a U.S. carbon fiber plant from a German carbon-based product maker to meet growing demand for materials used in making automobiles and wind generators.
By buying the plant in Wyoming from SGL Group through Mitsubishi Rayon Co.'s U.S. subsidiary, the Japanese chemical manufacturer will gain 1,000 tons of annual output capacity, the company said.
The deal is expected to be concluded by April for several billion yen.
Mitsubishi Chemical aims to enhance its carbon fiber production capacity as demand for the light and strong material has been growing to produce auto parts and windmills for wind power generation.
In addition to the output gained through the acquisition, Mitsubishi Chemical plans to raise its combined annual output in the U.S. and Japan to 13,300 tons in fiscal 2017 from 10,100 tons now.