Mitsubishi Chemical Advanced Materials, an affiliate company of Mitsubishi Chemical Holdings and a producer of high-performance thermoplastic material, says it has acquired Advanced Polymer Technologies. Financial details of the deal were not disclosed.
APT offers “advanced engineering plastic solutions through polymer conversion technologies in North America and Asia to the semiconductor, aerospace/defense, energy and medical industries,” it says. The acquisition will add one manufacturing facility to MCAM’s seven existing facilities in the US, it adds.
By Kartik Kohli
Source: Chemical Week
The investment enables the steam cracker to increase the share of renewable and recycled raw materials used in its (ethylene and propylene) production. The move supports the Borealis Strategy 2030 for a circular economy. The Porvoo investment program is expected to be completed in 2025.
Murray Auchincloss, bp’s CEO, said in a statement: “As I set out in February, BP’s destination from IOC [international oil company] to IEC [integrated energy company] is unchanged – and we need to deliver as a simpler, more focused, and higher-value company.
Founded in 1972, Tecnofilm has expanded its product portfolio over the years to offer a wider range of compounds and functional polymers for various industrial applications and technical articles. The company has patented several of its products.