Thursday, March 21, 2013
Toray To Spend Y56bn On Thai Expansion
BANGKOK (Nikkei)--Toray Industries Inc. (3402) will invest 17 billion baht, or roughly 56 billion yen, by 2020 to broaden its presence in Thailand, President Akihiro Nikkaku said at a news conference held here Wednesday.
The company plans to expand its auto airbag operations in the country, and acquire a local carbon fiber parts factory from race car manufacturer Dome Co., based in Shiga Prefecture.
Toray aims to double sales in Thailand to 35 billion baht in 2020, and increase its local workforce by slightly more than 10% to 5,400 employees over the same period.
(The Nikkei, March 21 morning edition)