Mitsubishi Rayon, PTT to study carbon fibre business JV in Southeast Asia

TOKYO, JAPAN/BANGKOK, THAILAND: Mitsubishi Rayon Co Ltd (MRC) and PTT Public Company Limited signed a MOU for joint study of carbon fibre business in Association of Southeast Asian Nations (ASEAN) Economic Community.

MRC and PTT expect high growth of carbon fiber demand in the region of South East Asia where the local demand still remains high and believe that Thailand will be the strategic location for their new facility due to its fully developed automotive industry. The joint study will target downstream businesses in automotive, energy (natural gas and renewable energy), civil engineering and infrastructure.

MRC and PTT anticipate up to ¥100 billion ($995.71million) sales of carbon fibre composites by 2020 in the region. The joint study will include an evaluation of potential demands for carbon fibre in Thailand and South East Asia region together with the feasibility study of new carbon fibre and its composites plant in Thailand. At the beginning stage, the joint collaboration will mainly focus on exploring automotive part and pressure vessel demands as the first priority. PTT, together with MRC believe that low cost natural gas containers made of extremely strong and light weight carbon fibre composites are the key technological breakthrough which will contribute to the transportation sector, unfolding the possibility to maximize fuel efficiency globally. Both companies expect to conclude the joint study by the end of 2013.

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