Toray, Mitsubishi invest in carbon fiber

Auto industry demand for carbon-fiber-reinforced composites is driving new investments by Japanese chemical makers. Toray Industries plans to build a facility in Jalisco, Mexico, to make a new carbon fiber variant with cost and performance characteristics suited for lightweight car body components. Production should start at the end of 2018. Separately, Mitsubishi Chemical has acquired a 44% stake in CPC Group, an Italian maker of auto body carbon fiber composites. Mitsubishi says it expects to have composite sales of $880 million by 2020.