Mitsubishi Corporation (MC) has completed a 25% share purchase of ELG Carbon Fibre (ECF), the West Midlands-based CF recycler.
ECF is a subsidiary of ELG Haniel, a German recycler specialising in the processing, recycling and trading of various raw materials, including stainless steel and carbon fibre.
Under the agreement, MC will promote ECF recycled carbon fibre products across a variety of industries, helping to build global business by offering a reliable supply of reprocessed carbon fibre.
ECF states it is the first company to have established commercial production of reclaimed carbon fibre products. The material is used across the automotive, electronics and wind energy sectors.
Speaking about the share purchase, ECF MD Frazer Barnes, said: “With the strong support of MC, we have already actioned our integration plans to achieve profitable and sustainable growth targets and are confident in our ability to achieve these goals. This agreement provides valuable resources to support ECF’s continued expansion and strengthens our position within the Asian and North America markets.”