Toray Industries (TYO:3402) And Daimler (ETR:DAI) Establish Joint Venture To Produce Carbon Fiber Car Parts

Sydney, Jan 25, 2011 AEST (ABN Newswire) - Toray Industries (TYO:3402) (PINK:TRYIY), the world's largest manufacturer of carbon fibers signed an agreement with German carmaker Daimler (ETR:DAI) (PINK:DDAIY) yesterday for the establishment of a joint venture in Germany to produce and sell carbon fiber reinforced plastics (CFRP) car parts.

The two companies are targeting cost competitive mass production of lightweight CFRP car parts, utilizing an innovative CFRP molding process technology developed by Toray for Daimler's Mercedes-Benz passenger vehicles to be launched in 2012.

According to Toray, the adoption of high-tech carbon fiber components can reduce the automobile body weight and therefore significantly boost fuel efficiency and reduce CO2 emissions, while safety and comfort features of cars can also be improved.

The joint venture will manufacture and market CFRP parts to further promote the adoption of carbon fiber composite materials in the automotive field even beyond the current applications in e.g. sport cars.

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