Mitsubishi enters pellet market

Mitsubishi Corp., Japan's largest general trading company, has acquired 45 percent interest in Vis Nova Trading GmbH, a German biopelleting business. Vis Nova Trading currently supplies 180,000 tons of wood pellets annually to electric power companies in the European Union and plans to build additional factories that would increase pellet output to 500,000 tons annually. Mitsubishi invested 5.63 million ($8.2 million) in Vis Nova Trading and intends to be actively involved in the company's management.