In a push to increase its tungsten carbide business, Mitsubishi Materials Corp will accelerate investments at its factories and pursue acquisitions.

The company plans to add a add a 10 billion yen (US$97 million) automated line at its Tsukuba factory north of Tokyo to boost output by 20% and will also consider expanding capacity or building new plants outside Japan. It will unveil details of the expansion of its carbide tool business along with other products under a three-year business plan, Executive Officer Fumio Tsurumaki told Bloomberg representatives in in Tokyo. 

“We intend to expand the business faster than the market grows,” he said. “We’re aiming to increase our share of the market. We’ll also invest enough to expand operations.”