Mitsubishi Chemical Transfers Light Metal Products Business to KFMI and TCPR

Japan: Business Takeover Mitsubishi Chemical Transfers Light Metal Products Business to KFMI and TCPR

19.11.2020Editor: Ahlam Rais

Mitsubishi Chemical Corporation (MCC) has signed a framework agreement with Konfoong Materials International Co. and KFMI Group company TCPR (Shanghai) Electro-Mechanical High-Tech Co. for the takeover of MCC’s light metal products business.

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The transfer is in line with Mitsubishi Chemical Corporation’s management plan to enhance its portfolio.
(Source: Deposit Photos)

Japan – Mitsubishi Chemical Corporation (MCC) has recently concluded a framework agreement with Konfoong Materials International Co. and KFMI Group company TCPR (Shanghai) Electro-Mechanical High-Tech Co. for the transfer of MCC’s light metal products business.

KFMI and TCPR manufacture sputtering target materials for semiconductors and liquid crystal displays, and rank among the top companies in the world for the manufacture of aluminum target materials, in particular. KFMI and TCPR plan to strengthen their businesses by acquiring businesses positioned upstream from their own operations, and securing a base in Japan. The two companies have a wealth of expertise in the global high-purity aluminum industry, and are long-standing purchasers of MCC’s light metal products.

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This transfer is part of the firm’s efforts to enhance portfolio management based on the Mitsubishi Chemical Holdings Group’s Aptsis 20 medium-term management plan, and is scheduled for completion in April 2021. In conjunction with the transfer, MCC is also considering withdrawal from the manufacture and sales of the KN series products (aluminum alloy for molding applications), which form part of its light metal products business but are not included in this transfer.

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