Toray Group prepared for AEC
Toray Industries Inc has invested Bt17 billion in Thailand this year, with the allocation of significant funds for Indonesia and Malaysia ahead of the activation of the Asean Economic Community.
Thailand is being turned into the regional production hub, CEO & COO Akihiro Nikkaku said in a press conference today, with the focus on plastic and chemicals mainly to supply the burgeoning automotive industry.
A plant is being constructed in Sri Racha, Chon Buri, to support the automotive industry expansion. Meanwhile, it also considers expanding the carbon fibre capacity, in line with growing demand for lighter automotive parts.
Toray Group of Companies has eight plants in Thailand, operated by 5 companies. The new investment was committed despite impacts from the 2011 flood. During the period, the plant of Thai Toray Synthetics (TTS) in Ayutthaya had to halt operations. TTS's Bangkok plant also halted operations on October 26, as areas near the plant got inundated.
On March 19, Toray Group Indonesia announced the invest of US$500 million in Indonesia up to 2020 for strengthening the company's core business and new business expansion. The company will allocate half of the amount to strengthen its core businesses - fibre and textile, while the rest will be used for expanding new businesses.