Toray Industries will embark in a major expansion of its carbon fiber business over the next few years. To that end, the Japanese company will invest US$ 176 million to boost production of automobile components, including existent operations in Mexico, according to the Nikkei Asian Review.

In addition to investments in Japan and United States, Toray decided late last month to expand a plant located in El Salto, Jalisco, which manufactures low-end carbon fiber for wind turbines. “The company will double annual capacity to more than 10,000 tons, with the additional capacity slated to come onstream late this year,” said the Japanese site.

The Nikkei revealed that “Toray decided to go through with the expansion to keep up with brisk demand, even as many other manufacturers hold off on capital spending in Mexico. Though most of Toray's Mexican output is shipped to China and India, 20% or so is believed to go to the U.S.”

You can read the complete report here.

MexicoNow

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