Toray Industries, Inc. announced its decision on a series of investments in Asia.

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Toray Industries, Inc. announced its decision on a series of investments in Asia.

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Asia

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Toray Industries, Inc. announced its decision on a series of investments in Asia to enhance the ability of the group's vapor deposition facilities for food packaging films. Toray Advanced Film Co., Ltd. Fukushima Plant the state-of-the-art vapor deposition equipment to produce aluminum-metalized polypropylene (PP) film for packaging applications, which will be put into operation in October 2013. Subsequently, Penfibre Sdn. Berhad (hereinafter referred to as “PFR”) in Malaysia will also introduce the state-of-the-art vapor deposition equipment with technical support from TAF and start production of metalized polyester (PET) film for packaging in April 2014. In addition, Thai Toray Synthetics Co., Ltd. (hereinafter referred to as “TTS”) has already completed its capacity increase of cast polypropylene (CPP) film for vapor deposition. The total investment in packaging film production facilities at the three companies is about 3.0 billion yen. In the packaging vapor deposition film market, aluminum-metalized film, which accounts for 30% of TAF's packaging film business, has the biggest share in Japan reflecting its superior quality and performance such as strong adhesion to the substrates, gas barrier property, and the diverse product lineup achieved in collaboration with overseas Toray Group companies. The latest vapor deposition equipment to be introduced at Fukushima Plant has a production capacity of 580 tons per month, addition of which roughly doubles the current packaging aluminum vapor deposition capacity to 1,100 tons per month, contributing to the company's efforts to improve profitability and increase the market share. PFR in Malaysia at present having the film-forming facility of PET film with a capacity of 3,600 tons per month will enter into the business of the metallization processing of PET film by investing in the new vapor deposition equipment with a capacity of 375 tons per month. TTS in Thailand has already been using a vapor deposition facility with a capacity of 400 tons per month, and brought its total CPP film-forming capacity up to 550 tons per month by adding new equipment in October 2012. In the ASEAN region, which has a massive consumer population exceeding 600 million people, the demand for packaging materials is expected to grow at an annual rate of 3% to 5% as living standards improve. Toray Group will accelerate its global business expansion by producing cost-competitive high-performance packaging films in the region. By enhancing global operation function through addition and construction of the new facilities announced this time as well as reinforcing mutual cooperation between TAF, PFR, TTS and other group companies, the group aims to respond to our customers' diverse requirements and demand for high quality while ensuring stable supply of high value added products. Under the medium-term management program “Project AP-G 2013” launched in 2011, Toray Group aims to become a corporate group that continually expands revenues and profits and is currently driving forward a group-wide project of the Asia and Emerging Country Business Expansion (AE) Project, which is aimed at tapping the burgeoning economies of Asian and other emerging countries. Toray Group continues to move forward with its global strategies in pursuit of new business opportunities. http://www.toray.com/news/film/nr130401.html Project Name Toray Industries, Inc. announced its decision on a series of investments in Asia. Location Asia Commence 2013 Completion -NA- Estimated Investment 3.0 billion yen Capacity -NA- Key Players Toray Industries, Inc