17 January 2011 07:26 [Source: ICIS news]
SINGAPORE (ICIS)--Japan’s Toray Industries said on Monday it will invest yen (Y) 5bn ($60.4m) to build a 2,200 tonne/year carbon fibre production facility in South Korea to meet the surging demand in Asia.
The plant would be built at wholly-owned subsidiary Toray Advanced Materials Korea’s facility in Gumi, South Korea, and operations were expected to begin in January 2013, the synthetic fibre maker said in a statement.
“With this move, Toray aims to reliably respond to the rapidly growing carbon fibre demand in Asia led by the Republic of Korea and China,” the statement said.
Construction of the plant, which would produce modulus carbon fibre for sporting goods and industrial applications, was expected to start early this year, the company said.
Toray earlier this month resumed construction of its 1,000 tonne/year carbon fibre facility in western Japan, after suspending the project in 2009 following the global economic crisis, it added.
($1 = Y82.82)
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