Toray Industries, Inc. (head office: Chuo-ku, Tokyo; President: Akihiro Nikkaku; hereinafter referred to as “Toray”) announced today that Toray and its subsidiary, Toray Resin Co. (hereinafter referred to as “TREC”) jointly established a new company, Toray Resin Mexico S.A. de C.V. (hereinafter referred to as “TRMX”) to start the resin compounding business in the United Mexican States. This makes TRMX the first Japanese engineering plastic manufacturer to establish its own resin compound production base in Mexico. with a production capacity of 10,000 tons a year of PA and PBT. The company will be established inside Mexican plant of Zolteck Companies, Inc., which became a wholly owned subsidiary of Toray earlier this year. The new facility is expected to start operating from February 2015. This additional facility expands Toray Group's resin compounding capacity in Americas to 34,000 tons.
Mexico has been growing economically as an export production base targeting the U.S. and other countries, leveraging its advantage of free trade, geographical location, and its strong infrastructural. Since 2010, automotive production, its main industry, has rapidly grown along with the strong U.S. demand and it is expected to continue expanding at a high growth rate. In addition, automotive-related manufacturers, which are the main customers of Toray's resin products, have been actively entering Mexico, and Toray will strengthen its supply structure for automotive and other industrial related customers by establishing resin compounding production and sales base in the country.
The establishment of TRMX gives Toray Group 11 compounding bases in 8 countries around the world - Japan, China (Shenzhen, Suzhou, Tianjin and Chengdou), Thailand, Malaysia, Indonesia, Republic of Korea (operates from 2015), the U.S. and Mexico - facilitating timely supply and service through local production. Toray’s resin technical centers are located not only in Japan, but also in Thailand, Malaysia and the U.S. Through closer collaboration of these Toray Group bases, it will offer global solutions for customer satisfaction and expansion of resin compound business.
As part of the growth strategy under the current medium-term management grogram “Project AP-G 2016”, Toray has been pursuing the Asia, America and Emerging Country Business Expansion (AE-II) Project to actively expand business and TRMX takes part of initiatives under AE-II Projects. The company aims to expand the resin compounding business in the U.S. and Mexico to ensure a firm presence in the region as a high-performance engineering plastic manufacturer. Toray will continue to contribute to further economic development of such regions to realize its continuous growth.
