Toho Tenax Acquires Carbon Fiber Business in the United States
Toho Tenax has announced that it agreed with Acordis, a leading fiber manufacturer based in the Netherlands, to acquire the PAN-based carbon fiber business in the United States.
Toho Tenax Group has been supplying carbon fibers and carbon fiber related products worldwide from its manufacturing bases in Japan and Europe (Germany). However, the absence of a manufacturing base in North America, the largest market for carbon fibers, has limited the company's sales share in North America relatively small . Therefore, the company identified the establishment of a supply system in the United States, Europe and Japan as a high priority in its Mid-term Management Plan launched in 2003, and determined that this acquisition is an appropriate step toward expanding its share in North America from the supply and demand balance point of view in the carbon fiber market. In the meantime, the demand for carbon fibers is expected to continue growing at an annual rate of approximately 10%. In order to meet this active demand, Toho Tenax Group will utilize the manufacturing base obtained through this acquisition to supply to both the North American domestic market and global markets as well.
A part of the current 3,500-ton capacity, large-tow (LT) capacity will be converted into a 700-ton regular-tow (RT) capacity and a 1,400-ton oxidized PAN fiber capacity within one year of the acquisition. A 1,300-ton large-tow capacity will remain as it is.
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