Shortcut to Body Shortcut to main menu

Investment News

  • Home
  • About Us
  • Newsroom
  • Investment News
Japan's Toray starts work on carbon fiber plant


   Toray, a leading Japanese chemical firm, will invest KRW 1.3 trillion in Korea, starting from the construction of a carbon fiber plant in Gumi.

   Toray Advanced Material Korea broke ground for the carbon fiber plant at the Gumi National Industrial Complex on June 28.

   Toray will spend KRW 63 billion to build its first South Korean carbon fiber plant. It will become operational in January 2013 and will have an annual production capacity of 2,200 tons of Torayca, high-strength carbon fiber.

   It is Toray’s fourth carbon fiber plant following those in Japan, the US and France. The company said that it will serve as Asia’s production hub.

   Carbon fiber weighs just one fourth of steel, but 10 times stronger. So it is used as a core material for improving energy efficiency in various industries including aerospace, sports, leisure, automobiles and wind power.

   About 30 people joined the groundbreaking ceremony, including Kim Jung-kwan, the 2nd vice minister of Knowledge Economy, Kim Gwan-yong, governor of North Gyeongsang Province, Nam Yoo-chin, mayor of Gumi city, Lee Sang-deuk, Kim Sung-jo, Kim Tae-hwan, members of National assembly, Sakakibara Sadayuki, CEO of Toray, Akihiro Nikkaku, president of Toray, Lee Young-kwan, president of Toray Advanced Material Korea and Masatoshi Muto, Japanese ambassador in Korea.

   The 2nd vice minister Kim said “The mass production of carbon fiber will enhance the competitiveness of related domestic industries such as automobiles, machines and aerospace. The construction of the plant will also help Korean companies advance into overseas market with Korea-EU FTA taking effect on July 1.

   President Akihiro Nikakku said “Carbon fiber composite material can be a solution to global issues such as shortages of resources, energy and environmental pollution. Toray’s Green Innovation business can contribute to addressing the environmental issues on earth.”

     Before the groundbreaking ceremony, Toray signed a Memorandum of Understanding (MOU) to push ahead with new business with North Gyeongsang Province.

   From 2013, Toray will invest KRW 1.3 trillion in establishing plants for carbon fiber, IT-related products and energy materials in the Gumi 5 National Industrial Complex. The company said “We plan to develop Korea into the world’s largest production hub in carbon fiber of industrial use.”

Source Text

Source: Yonhap News(June 28, 2011)

Meta information