ID :
191468
Tue, 06/28/2011 - 09:12
Auther :
Shortlink :
https://oananews.org//node/191468
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Japan's Toray starts work on carbon fiber plant
GUMI, South Korea, June 28 (Yonhap) -- Toray Advanced Materials Korea Inc. broke ground Tuesday for its first South Korean carbon fiber plant in this southern city to meet growing demand for the high-tech material at home and abroad.
The South Korean subsidiary of the Japanese chemical firm Toray Industries Inc. said it will spend 63 billion won (US$58.3 million) to build the plant in Gumi, an industrial city some 261 kilometers south of Seoul.
The plant will become operational in January 2013 and will have an annual capacity of 2,200 tons of high-strength carbon fiber, the company said.
High-strength and low-weight carbon fibers are used in many industries including automobiles, airplanes and robots, as well as in leisure equipment like tennis rackets and fishing rods.
"Mass production of carbon fiber in South Korea will help improve the competitiveness of local auto, electric, machinery and other industries, said Toray President Akihiro Nikkaku said.
Meanwhile, Toray signed a memorandum of understanding with the local government of Gumi to invest 1.3 trillion won in building plants for carbon fiber, information technology and other sectors in Gumi over the 10 years from 2013.
"We want to make South Korea a global hub for producing industrial carbon fiber," said the company.
At present, South Korea imports the 2,400 tons of carbon fiber it uses from companies in Japan and the United States that have effectively controlled the technology to make the high-tech fibers.
As of 2011, the global market for high-grade carbon fibers stood at 50,000 tons worth $2 billion, with demand expected to rise an average of 11 percent annually to top $5 billion by 2020.
brk@yna.co.kr
The South Korean subsidiary of the Japanese chemical firm Toray Industries Inc. said it will spend 63 billion won (US$58.3 million) to build the plant in Gumi, an industrial city some 261 kilometers south of Seoul.
The plant will become operational in January 2013 and will have an annual capacity of 2,200 tons of high-strength carbon fiber, the company said.
High-strength and low-weight carbon fibers are used in many industries including automobiles, airplanes and robots, as well as in leisure equipment like tennis rackets and fishing rods.
"Mass production of carbon fiber in South Korea will help improve the competitiveness of local auto, electric, machinery and other industries, said Toray President Akihiro Nikkaku said.
Meanwhile, Toray signed a memorandum of understanding with the local government of Gumi to invest 1.3 trillion won in building plants for carbon fiber, information technology and other sectors in Gumi over the 10 years from 2013.
"We want to make South Korea a global hub for producing industrial carbon fiber," said the company.
At present, South Korea imports the 2,400 tons of carbon fiber it uses from companies in Japan and the United States that have effectively controlled the technology to make the high-tech fibers.
As of 2011, the global market for high-grade carbon fibers stood at 50,000 tons worth $2 billion, with demand expected to rise an average of 11 percent annually to top $5 billion by 2020.
brk@yna.co.kr
