29 July 2013 06:04 [Source: ICIS news]
SINGAPORE (ICIS)--Toho Tenax intends to strengthen its carbon fibres and composites business operations in India and southeast Asia, with Singapore as its base for business development and sales expansion, its parent firm Teijin said on Monday.
Toho Tenax has an existing office in Singapore that was set up in 2010, primarily to conduct research and identify demand and provide customer services in India, Singapore, Thailand, Vietnam and Oceania, the Japanese producer said in a statement.
This office would be absorbed by the newly created company called Toho Tenax Singapore Pte Ltd, Teijin said.
“Market development in India, the ASEAN [Association of Southeast Asian Nations] region and Oceania is a high priority for our growth,” said Toho Tenax president Jun Suzuki said in the statement.
“We are actively pursuing collaborations with local companies, aiming to quickly strengthen our presence in these fast-growing markets. The new company has an important role to play in this process.”
Teijin said Asia’s demand for carbon fibre is expected to increase rapidly, especially for industrial applications such as pressure vessels, wind turbine generators and casings for home electronics.
Toho Tenax is the core company of Teijin group’s carbon fibres and composites business.
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