📋 Tender Overview
The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on January 6 a loan agreement with Mitsubishi Chemical Europe GmbH, a German subsidiary of Mitsubishi Chemical Group Corporation (MCG). The loan is co-financed with multiple private financial institutions*1.
This loan is intended to finance part of the funds necessary for MCG to acquire C.P.C SRL (CPC)*2, an Italian company that MCG has held a stake in since 2017.
CPC is an automotive parts manufacturer that manufactures and sells carbon fiber reinforced plastic (CFRP) parts for automobiles. It has specialized knowledge and expertise in parts design, molding, painting, and assembly. CFRPs, composite materials made of carbon fiber and resin, have the characteristics of lightness, high rigidity, and strength. As the demand for battery electric vehicles has been growing in the global automobile market to achieve carbon neutrality, CFRPs have been increasingly used as materials for car components that can improve fuel economy by reducing body weight.
Through this investment, MCG will promote cooperation with CPC on such initiatives as the development of new intermediate materials for CFRP to further accelerate the application of these materials for automotive parts. This loan supports the overseas business deployment of MCG, a Japanese company, by providing necessary funds for M&As, and it thereby supports the overseas expansion of its existing business, as well as new business deployment, and contributes toward maintaining and strengthening the international competitiveness of Japanese industries.
As Japan’s policy-based financial institution, JBIC will continue to support the overseas business expansion of Japanese companies, including their overseas M&A activities, in collaboration with private financial institutions.
