Toray Plastics America to Lead Expansion in Europe

NORTH KINGSTOWN, R.I.—Toray Plastics (America), Inc., North America’s only manufacturer of precision-performance polyester (PET) and polypropylene (PP) films, is taking a leading role in Toray Industries, Inc.’s decision to grow its packaging film business in Europe.

Toray Industries, Inc., headquartered in Chuo-ku, Tokyo, will establish Toray Films Europe S.A.S, (also known as TFE), in Rhône-Alpes, France in Feb. 2008, for the production of Torayfan bi-axially oriented polypropylene high-barrier metallized film. Toray Plastics (America), Inc. will drive the development and commercialization of the new business’s Torayfan film technology and help establish TFE as a core production base in Europe. Toray Plastics (America), Inc. will then continue to bring new value-added high-oxygen-barrier and high-moisture-barrier film advancements to TFE as it develops them.

“Market forces and Toray Plastics (America) Inc.’s successful commitment to excellence have converged perfectly,” said Richard Schloesser, executive vice president, Toray Plastics (America), Inc. “Throughout western and eastern Europe, end users want access to the most technologically advanced value-added barrier films, and we are pleased to lend our expertise to Toray Industries’s new European enterprise and help it succeed in meeting the market’s demands. We have built our business around the needs of our largest customers and this new venture will fit well with the strategic growth plans of our global partners.”

Toray Industries expects to invest about $100 million in the project. Construction of the new manufacturing facility, which will include metallization capabilities, will begin this year at the same site as Toray Plastics Europe S.A., also known as TPEu. TPEu is the company’s polyester film manufacturing base in France. Operations are anticipated to start in April, 2010. Annual BOPP film capacity is projected to be 20,000 tons. Metallization production is projected to be 22,000 tons.