Mitsubishi Chemical Plans $20.3M U.S. Expansion
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Mitsubishi Chemical Advanced Materials Inc. plans to invest $20.3 million to expand its manufacturing operations in Reading, Pennsylvania.
The project includes renovations to the company’s existing facility, construction of an adjacent building and installation of new machinery and equipment. The expansion will support production of specialty engineering thermoplastics and composites.
Mitsubishi Chemical also plans to establish a Center of Excellence for the extrusion of general and advanced engineering plastics at the site.
“This investment reflects Mitsubishi Chemical’s long-term commitment to Pennsylvania and expanding advanced manufacturing in the region,” said Daniel Barish, president of Mitsubishi Chemical Advanced Materials Inc., Americas. “By establishing a Center of Excellence for the extrusion of general and advanced engineering plastics, we are strengthening our innovation capabilities while creating high-quality jobs and new opportunities for local communities.”
The expansion is expected to create 42 jobs within three years and retain 441 existing full-time positions.
The Pennsylvania Department of Community and Economic Development offered the company a $500,000 Pennsylvania First grant to support the project.
Mitsubishi Chemical Advanced Materials is a subsidiary of Japan-based Mitsubishi Chemical Group. The company manufactures and processes high-performance thermoplastics and composite materials for a range of industries and applications.
Source: Pennsylvania Department of Community & Economic Development
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