Mitsubishi boosts its plastic recycling
March 24, 2020
Mitsubishi Chemical is set to boost recycling of engineering plastics with two acquisitions in Switzerland.
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 Materials (MCAM) as a part of the company’s efforts to promote the circular economy.
Based on the Mitsubishi Chemical Holdings (MCHC) Group’s KAITEKI Vision 30, MCC makes the circular economy a key element in its realisation of KAITEKI, and plastics recycling is an important initiative within this basic policy. Earlier this month MCC also announced the creation of a circular economy department to help achieves its circular economy goals.
The Minger Group has 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 Minger Group is located in Appenzell, Switzerland and has 26 employees. The company has net sales of €9.3 million ($10.07 million).
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.
Categories : City News
