Toray Industries Inc plans acquiring Zoltek Companies Inc

Toray to acquire Zoltek for $584 million

9:14 AM, 27th September 2013
Toray plans to quire Zoltek Companies Inc

TOKYO, JAPAN: Toray Industries Inc has agreed to purchase the entire stake at $16.75 per share (total of $584 million) in Zoltek Companies Inc, engaging sales and manufacture of large tow carbon fibre.

The global demand for polyacrylonitrile (PAN)-based carbon fibres is expected to expand at an annual growth rate of exceeding 15 per cent as an advanced material which contributes not only to energy saving through weight reduction but also to spread of renewable energy as alternative of fuel (oil and coal) energy.

On the one hand, regular tow carbon fibre is widely being accepted in the field of high performance/high quality application such as aerospace, but on the other hand, large tow carbon fibre is anticipated to expand its applications, based on its reasonable balance between cost and performance, to wind energy-related which shows rapid demand growth in recent years, and automobile structural parts in future. It is foreseen that demands for regular tow carbon fibre and large tow fibre will grow separately, reflecting each characteristic.

 

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