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Business

Toray Settles Trade Secret Case

by Marc S. Reisch
July 21, 2014 | APPEARED IN VOLUME 92, ISSUE 29

Toray Chemical Korea has admitted that in 2011 it tried to steal DuPont’s intellectual know-how to make the m-aramid fiber Nomex, which is used in fire protection garments. As part of a deal with the U.S. Attorney’s Office for the Eastern District of Virginia, the South Korean firm agreed to pay a $2 million fine and create an ethics compliance program. Toray Chemical Korea was known as Woongjin Chemical until earlier this year when Japan’s Toray Industries bought a 56% stake in it. Toray Industries has had close ties to DuPont for many years, including a joint venture that makes the p-aramid fiber Kevlar.

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