Toray buys remaining shares in French carbon fibre subsidiary SOFICAR

Toray previously held a 70% stake in SOFICAR, and Arkema a 30% stake.

Toray is renaming SOFICAR as Toray Carbon Fibers Europe SA (CFE) in order to show its strong commitment to European customers.

SOFICAR was established in 1982 as a joint venture with Elf Aquitaine (investment ratio: 35% by Toray and 65% by Elf Aquitaine). Since Toray increased its stake to 70% in 1988, SOFICAR has been expanding its business as the strategic base of Toray’s carbon fibre composite materials business in Europe.

SOFICAR currently has carbon fibre production capacity of 5200 tons a year. Toray plans to further expand the business through installing new production lines for raw material fibre (precursor) and prepreg for aircraft applications in the future, as well as further expansion of carbonisation capacity at new CFE.

Toray currently operates three carbon fibre sites in Japan, France and the US, and a new plant will be opened in Korea in 2013.