TOKYO—Mitsubishi Chemical Corp. has acquired Comtrex LLC, a maker of PVC compounds and thermoplastic elastomers based in Warren, Mich.
No purchase price was listed in recent news releases from Tokyo-based Mitsubishi and from Comtrex, which was founded in 1969 and currently has around 40 employees and annual sales of about $20 million. The firm sells PVC compounds, thermoplastic vulcanizates and other TPEs into a range of markets including automotive, industrial and consumer goods.
Mitsubishi will operate Comtrex as part of its Mitsubishi Chemical Performance Polymer unit, based in Greer, S.C.
In a news release, Mitsubishi officials said that the acquisition “is in line with [the group's] medium-term management plan” of increasing its manufacturing and sales into TPEs, cross-linked polymers, adhesive polymers and conductive polymers.