Toray Industries agrees to acquire Zoltek Companies
The global demand for PAN-based carbon fibers is expected to expand at an annual growth rate of exceeding 15% as an advanced material which contributes not only to energy saving through weight reduction but also to spread of renewable energy as alternative of fuel (oil and coal) energy. On the one hand, regular tow carbon fiber is widely being accepted in the field of high performance / high quality application such as aerospace, but on the other hand, large tow carbon fiber is anticipated to expand its applications, based on its reasonable balance between cost and performance, to wind energy-related which shows rapid demand growth in recent years, and automobile structural parts in future. It is foreseen that demands for regular tow carbon fiber and large tow fiber will grow separately, reflecting each characteristic. Zoltek entered into large tow carbon fiber business in 1988, and acquired textile acrylic fiber plants in Hungary and Mexico in 1996 and 2007 respectively, and has been