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Oct. 2, 2007

Toray Industries, Inc.
Toray Engineering Co., Ltd.

Toray, Toray Engineering, SRF of India Sign Agreement on Technology Export of Industrial Polyester Filament Yarn Manufacturing Plant

Toray Industries, Inc. (headquarters: Chuo-ku, Tokyo; president: Sadayuki Sakakibara; hereinafter referred to as Toray) and Toray Engineering Co., Ltd. (headquarters: Chuo-ku, Tokyo; president: Tokio Nakamura; hereinafter referred to as TEK) today announced that the companies signed a contract with SRF Limited (headquarters: New Delhi, India; chairman: Arun Bharat Ram; hereinafter referred to as SRF) to export technology related to manufacturing plant for industrial polyester filament yarn such as tire cords and conveyer belts. The production capacity of the plant is expected to be 15,000 tons annually and the plant is expected to start operations in spring 2009.

This project is the first instance in India of a full-scale introduction of technology related to manufacturing plant for industrial polyester filament yarn.

In India, nylon tire cords have been popular in applications primarily for large-sized vehicles such as trucks and buses. However, an increase in the number of passenger vehicles accompanying rapid economic and infrastructure development has been boosting demand for polyester tire cords used for passenger vehicles. At the same time, demand for industrial applications, especially conveyer belts, has been increasing on the back of development of various industries buoyed by the country’s near 10% economic growth rate.

SRF, which has been leading the market as India’s biggest nylon tire cord manufacturer, came to the decision to sign the agreement this time to introduce technologies related to industrial polyester filament yarn manufacturing plant in order to meet such strong domestic demand for polyester tire cords and conveyer belts.

Ever since its 1983 agreement with SANS Fibres of South Africa, Toray Group has been globally active in technology export related to manufacturing plants for industrial polyester and nylon filament yarns. Ranging from the export of manufacturing plants with proven track record at the Group plants to supervision of construction and provision of training of engineers, Toray Group so far has successfully implemented such technology export for eight companies in five countries. The Group’s strength in this field lies in its ability to enable production at the guaranteed level right after the plant delivery.

In India, Toray Group in 1989 exported technology related to industrial nylon filament yarn manufacturing plant to CEAT Ltd. Subsequently in 1995, SRF acquired CEAT’s nylon tire cord business and the 1989 technology export agreement has been taken over by SRF. With the new technology export on industrial polyester filament yarn plant, Toray and SRF aim to further deepen the friendly relationship between the two companies to promote multilateral technological cooperation in India.


[Outline of technology export agreement with SRF]
1. Signed with: SRF Limited (India)
2. Scope of the agreement: Industrial polyester filament yarn manufacturing plant
(including equipment, engineering, provision of expertise, supervision of construction and engineer training)
3. Plant capacity: 15,000 tons per year
4. Effective date of the agreement: September 10, 2007
5. Completion of plant delivery: Spring 2009 (planned)

<Reference: Corporate Profiles>
■SRF Limited
1. Established : 1970
2. Headquarters : New Delhi, India
3. Representative : Chairman Arun Bharat Ram
4. Sales : 18,024 million rupees in fiscal year 2006 (approximately 54.1 billion yen)
5. Net income : 2,891 million rupees in fiscal year 2006 (approximately 8.7 billion yen)
6. Core businesses : Manufacturing and sales of coolant gas and nylon fiber
India’s biggest nylon tire cord manufacturer (the seventh largest in the world) with an established presence as a market leader in industrial-use nylon and coolant gas fields.

■Toray Industries, Inc.
1. Established : 1926
2. Headquarters : Chuo-ku, Tokyo, Japan
3. Representative : President, CEO and COO Sadayuki Sakakibara
4. Core businesses : Manufacturing and sales of fibers and textiles, plastics and chemicals, IT-related products, carbon fiber composite materials, environment and engineering, life science and other businesses

■Toray Engineering Co., Ltd.
1. Established : 1960
2. Headquarters : Chuo-ku, Tokyo, Japan
3. Representative : President and CEO Tokio Nakamura
4. Core businesses : Integrated engineering solutions related to plant, facility and equipment, production and construction, consulting and maintenance

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