10 December 2014
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today announced that
it had reached a basic agreement with
(head office: Como Province, Lombardy Region,
Republic of Italy; hereinafter referred to as “Saati”)
to acquire its
European carbon fiber fabric and prepreg business.
Toray will take over the assets of Saati’s plant
(location: Legnano, Milan Province) in January 2015,
which would start operation as
Composite Materials (Italy) S.r.l., (CIT),
a wholly-owned subsidiary of Toray,
while Saati's American composite business
will still belong to the Saati Group.
Profile of Composite Materials (Italy) S.r.l. (CIT)
(1) Business: Production and distribution of
carbon fiber fabric and prepreg
(2) Location: Legnano, Milan Province, Lombardy,
Republic of Italy
In Europe, Toray currently is engaged in
carbon fiber business
starting from polyacrylonitrile (PAN) precursor
at its French subsidiary,
Toray Carbon Fibers Europe S.A. (CFE), and
CFRP parts business that uses carbon fiber fabric
at its German subsidiaries of
Euro Advanced Carbon Fiber Composites GmbH (EACC) and
ACE Advanced Composite Engineering GmbH (ACE).
Through this planned acquisition of
intermediate material business base,
Toray establishes its own integrated supply chain,
and would further strengthen the structure of
Toray Group’s carbon fiber composite materials business
in Europe.
Saati's carbon fiber fabric and prepreg business
has been expanding rapidly in recent years
as a customer of
Toray Group's carbon fiber-related companies,
especially of CFE,
under the strong cooperation between the two companies.
In particular, in the premium automobile field,
it has been highly acclaimed by
the market for its quick response to
customer requirements, despite being
a late entrant into the market.
Going forward, Toray Group will transfer its technology to
CIT while aiming to
expand the business beyond Europe
by leveraging its global sales channel.
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