TOKYO, JAPAN: Mitsubishi Rayon Co Ltd (MRC), the leading international supplier of carbon fibre and composite materials has acquired Gemini Composites LLC, headquartered in Seattle, Washington, US.
Gemini is a design, engineering and prototyping firm specialised in product development using Forged Composite technology.
Mitsubishi Rayon Carbon Fiber and Composites Inc, MRC’s wholly owned subsidiary, acquired all the shares of Gemini currently owned by its founder and made the firm a subsidiary of it.
MRC is today the world’s largest manufacturer and supplier of carbon fibre sheet moulding compounds (CFSMC), which is the base material used in Forged Composite technology. The company has been proactively conducting CFSMC marketing to car manufacturers in Japan, Germany, and North America since it established its new SMC production line in 2015 at its Toyohashi Production Center in Aichi Prefecture.
MRC believes that the said acquisition will further enhance its product development capability for automotive SMC components and enable development of innovative products based on a component design-driven approach.
MRC continues its business strategy to support the fast-growing automotive and industrial business sectors, with the aim to achieve net sales of JPY 100 billion in carbon fibre and composite materials by 2020 as indicated in APTSIS 20, the Mitsubishi Chemical Holdings Group’s medium-term management plan.
"The Gemini team will greatly enhance the capability of MRC to develop engineered solutions for our customers and to assist them from initial concept all the way to start-of-production using our CFSMC. Gemini adds a strategic growth platform to our organisation with its breakthrough approach to product development, as in the case of the award-winning Union FC snowboard binding,” said Akira Nakagoshi, general manager of carbon fibre and composites of Mitsubishi Rayon.
“We are excited to be part and have the support of MRC for the years to come. Together we will be able to offer a full turn-key package from design to production to our customers worldwide who wish to explore the great potential that Forged Composite technology has to offer but do not yet know how to approach it,” added Dr Feraboli, founder and CEO of Gemini.
© Worldofchemicals News
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