Toray Plastics (America),Inc to Lead Toray Industries's Expansion in Europe14 Feb 2008 • by Natalie Aster
NORTH KINGSTOWN, RI -- Toray Plastics (America), Inc., North America's only manufacturer of precision-performance polyester (PET) and polypropylene (PP) films, is pleased to announce its leading role in Toray Industries, Inc.'s decision to grow its packaging film business in Europe. Toray Industries, Inc., headquartered in Chuo-ku, Tokyo, will, in February, 2008, establish Toray Films Europe S.A.S, (also known as TFE), in Rhone-Alpes, France, for the production of Torayfan bi-axially oriented polypropylene high-barrier metallized film. Toray Plastics (America), Inc., a recognized global leader in packaging film technology, will drive the development and commercialization of the new business's Torayfan film technology and help establish TFE as a core production base in Europe. Toray Plastics (America), Inc. will then continue to bring new value-added high-oxygen-barrier and high-moisture-barrier film advancements to TFE as it develops them.
"Market forces and Toray Plastics (America) Inc.'s successful commitment to excellence have converged perfectly," states Richard Schloesser, Executive Vice President, Toray Plastics (America), Inc. "Throughout western and eastern Europe, end users want access to the most technologically advanced value-added barrier films, and we are pleased to lend our expertise to Toray Industries's new European enterprise and help it succeed in meeting the market's demands. We have built our business around the needs of our largest customers and this new venture will fit well with the strategic growth plans of our global partners."
Toray Industries expects to invest approximately US$100 million in the project. Construction of the new manufacturing facility, which will include metallization capabilities, will begin this year at the same site as Toray Plastics Europe S.A., also known as TPEu. TPEu is the company's polyester film manufacturing base in France. Operations are anticipated to start in April, 2010. Annual BOPP film capacity is projected to be 20,000 tons. Metallization production is projected to be 22,000 tons.
In addition to serving North American markets, Toray Plastics (America), Inc., exports its high-barrier metallized polypropylene to customers throughout the world, including Europe, Australia, and South Africa. Increasing demand for those products, especially in eastern Europe and Russia, made it apparent that Toray Industries could capitalize on that growth opportunity by tapping Toray Plastics (America), Inc.'s knowledge and experience. The company will also leverage the technologies and expertise of the TPEu operation, assuring a smooth launch of the Torayfan business in Europe.
Toray Plastics (America), Inc., is a leading manufacturer of polyester and polypropylene films for flexible and rigid packaging, lidding, graphic, industrial, optical, and electronic applications. The company is a subsidiary of Toray Industries, Inc., the world leader in synthetic fibers and textiles, carbon fibers, plastics, chemicals, pharmaceuticals, and high-performance films. Annual sales exceed US$12 billion.
Source: Toray Plastics