Japanese Toray to invest KRW 1 trillion in Korea… "Revenue KRW 5 trillion to open in 2020”
[ Yang Ji Yun galileo@ ] | 2017-10-20 09:59:46
Japanese high-tech material company, Toray is expected to invest a total of KRW 1 trillion in Korea by 2020. The company also plans to expand sales of engineering plastics, rechargeable battery separator materials, and nonwovens for sanitary materials to reach 5 trillion won by 2020.
Akihiro Nippuka, president of Japan`s Toray, at the meeting held at The Plaza Hotel in Jung-gu, Seoul on October 19, and Lee Young-kwan, CEO of Korea`s Toray, announced the investment plan.
Toray has been investing steadily since entering 1963 in Korea with nylon manufacturing technology. Currently, the Korean Toray Group includes major affiliates such as Toray Advanced Materials, Toray Chemical, Stemco, Toray Battery Separator Film Korea and Toray BSF Coating Korea.
First, the company decided to invest KRW 115 billion to expand spun-bonded nonwoven production facilities. Toray Advanced Material Co., Ltd., has moved into Gumi 5 Industrial Complex in Gyeongbuk last year and started construction of 4 factories and started to expand polypropylene (PP) No. 6. PP nonwovens are used as premium hygiene materials such as diapers and sanitary napkins. TORAY high-tech materials produce 18,000 tons of nonwovens per year, and in Korea next year when the expansion is completed, Korea will have an annual production capacity of 64,000 tons of nonwoven fabric.
The company will invest a total of KRW 400 billion in the secondary battery separator business. Toray Battery Separator Film Korea, which produces separators, will invest KRW 200 billion this year after investing KRW 200 billion. Secondary battery separators are widely used for lithium ion batteries such as portable electronic devices and automobiles. We will invest KRW 150 billion to expand our coating production line. As the market for lithium-ion rechargeable batteries is expected to expand due to the expansion of electric vehicles, In addition, the company plans to increase its engineering plastic resin (PPS) production capacity to 10,600 tons by adding 100 billion won to the Saemangeum industrial complex.
Torey Korea Group has set a goal of achieving sales of KRW 2.8 trillion in sales last year and KRW 5 trillion in 2020,
Nichkhaku Akihiro, president of the company, said, "Korea is a very important strategic place as it has global companies such as Samsung, Hyundai and SK." He also added, "Comprehensive such as raw material import, production, transportation, labor cost, I think it is possible to expand the business."
Meanwhile, the Korean Toray Group has established the Korea Toray Science Promotion Foundation and decided to strengthen its social contribution activities. Korea`s Toray Science Promotion Foundation, with four affiliates in Korea annually, will start full-scale business from next year. Lee Young-gwan, president of Korea Tory, said, "As the sales increase by 2020, the scale of the participation will increase." He said, "We will actively support scientists and talented people who have contributed to the development of domestic science and technology."
By Yang Ji Yun galileo@
[ copyright ⓒ The Digitaltimes ]
Akihiro Nippuka, president of Japan`s Toray, at the meeting held at The Plaza Hotel in Jung-gu, Seoul on October 19, and Lee Young-kwan, CEO of Korea`s Toray, announced the investment plan.
Toray has been investing steadily since entering 1963 in Korea with nylon manufacturing technology. Currently, the Korean Toray Group includes major affiliates such as Toray Advanced Materials, Toray Chemical, Stemco, Toray Battery Separator Film Korea and Toray BSF Coating Korea.
First, the company decided to invest KRW 115 billion to expand spun-bonded nonwoven production facilities. Toray Advanced Material Co., Ltd., has moved into Gumi 5 Industrial Complex in Gyeongbuk last year and started construction of 4 factories and started to expand polypropylene (PP) No. 6. PP nonwovens are used as premium hygiene materials such as diapers and sanitary napkins. TORAY high-tech materials produce 18,000 tons of nonwovens per year, and in Korea next year when the expansion is completed, Korea will have an annual production capacity of 64,000 tons of nonwoven fabric.
The company will invest a total of KRW 400 billion in the secondary battery separator business. Toray Battery Separator Film Korea, which produces separators, will invest KRW 200 billion this year after investing KRW 200 billion. Secondary battery separators are widely used for lithium ion batteries such as portable electronic devices and automobiles. We will invest KRW 150 billion to expand our coating production line. As the market for lithium-ion rechargeable batteries is expected to expand due to the expansion of electric vehicles, In addition, the company plans to increase its engineering plastic resin (PPS) production capacity to 10,600 tons by adding 100 billion won to the Saemangeum industrial complex.
Torey Korea Group has set a goal of achieving sales of KRW 2.8 trillion in sales last year and KRW 5 trillion in 2020,
Nichkhaku Akihiro, president of the company, said, "Korea is a very important strategic place as it has global companies such as Samsung, Hyundai and SK." He also added, "Comprehensive such as raw material import, production, transportation, labor cost, I think it is possible to expand the business."
Meanwhile, the Korean Toray Group has established the Korea Toray Science Promotion Foundation and decided to strengthen its social contribution activities. Korea`s Toray Science Promotion Foundation, with four affiliates in Korea annually, will start full-scale business from next year. Lee Young-gwan, president of Korea Tory, said, "As the sales increase by 2020, the scale of the participation will increase." He said, "We will actively support scientists and talented people who have contributed to the development of domestic science and technology."
By Yang Ji Yun galileo@