Toray Buys Land For New U.S. Plants

Japan’s Toray Industries has acquired a 400-acre site in Spartanburg County, S.C., to set up new plants. As part of a newly adopted strategic plan, Toray envisages investing about $1 billion in the U.S. because it sees the country regaining industrial competitiveness on the back of its abundant shale gas supply. The company hopes to turn the Spartanburg site into its North American advanced materials base. This will primarily consist of integrated facilities for producing carbon fiber, starting from precursor material through to carbon fiber sheet impregnated with resin.