Mitsubishi Rayon Co., Ltd. (“MRC”) had entered into a merger agreement by which MRC will acquire U.S. based Aldila, Inc. (“Aldila”), with aims to strengthen and expand graphite golf shafts and carbon fiber intermediate materials businesses globally.
Subject to stockholders' resolution obtained at the stockholders' meeting scheduled at end of December as well as approvals by appropriate authorities required in the U.S. , a U.S. subsidiary formed by MRC (“SPC”) and Aldila will merge with Aldila as the surviving company, and Aldila will become 100 percent subsidiary of MRC.Mitsubishi Rayon Co., Ltd. (“MRC”) had entered into a merger agreement by which MRC will acquire U.S. based Aldila, Inc. (“Aldila”), with aims to strengthen and expand graphite golf shafts and carbon #
Established in 1972, as a pioneer of graphite golf shafts, Aldila is one of the most recognized brand manufacturers in the U.S., the world's largest golf market. By integrated manufacturing of intermediate materials (“Prepreg”), it maintains its high competency in areas of designing capabilities, quality performance, as well as cost efficiency.
On the other hand, since launch of golf shaft development in 1976 as a part of the carbon fiber composite materials business, MRC has continued to provide high quality products to the market based on material development capabilities which extends back to carbon fiber, and advanced product processing and quality control technologies. MRC has gained the position of branded shafts manufacturer represented by Diamana. The quality standards of MRC have support from many of the top golf players.
Purpose of this acquisition:
Through this acquisition, we expect significant synergies between one of the world's leading premium brand Aldila and our existing brands, Diamana, Fubuki and Bassara. With our strength in integrated manufacturing from raw materials, we aim to expand our sales in the North American carbon fiber golf shafts market, to further grow our business and enhance our globalization.
Also, by acquisition of the Prepreg business of Aldila, we aim to strengthen the intermediate materials business in North America together with Newport Adhesives & Composites, Inc., which is 100 percent subsidiary of MRC already actively developing its business.
Prepreg is one of the major intermediate materials using carbon fiber. It is a sheet of carbon fibers evenly impregnated with epoxy resin. It has long been used for body of aircrafts, leisure and sporting goods such as golf shafts. Recently its application expanded to automotive parts and wind turbine blades.
Mitsubishi Rayon Co Ltd
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