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Toray Acquires Zoltek

Toray Industries Inc., Tokyo, plans to acquire large-tow carbon fiber producer Zoltek Companies Inc., St. Louis, for approximately $584 million.

Toray provides regular tow carbon fiber product for high-performance aerospace applications. The company foresees increasing global demand for polyacrylonitrile (PAN)-based carbon fibers and expanded applications for large tow carbon fiber in commodity industrial areas including wind energy and automotive structural components.

Zoltek, founded in 1988, has expanded over the years, acquiring acrylic fiber plants in Hungary and in Mexico. Its fiber is used in particular for wind-energy-related applications.

November/December 2013