(June 18, 2018, Tokyo） - Toray Industries, Inc. (head office: Chuo-ku, Tokyo; President: Akihiro Nikkaku; hereinafter referred to as "Toray") today announced that it established a representative office for the resin business of its Thai subsidiary Thai Toray Synthetics Co., Ltd. (abbr. TTS) in Hanoi to capture the expanding engineering plastic demand in the Vietnamese market. The office began operations earlier this month.
In 2014, GDP per capita of Vietnam exceeded 2,000USD and the country is a promising market where stable economic growth of 6% or more is expected in the future. The China plus one movement is also gathering pace and more Japanese office automation and auto parts manufacturers and Korean electronic appliance manufacturers are expected to shift their production from China. Along with the economic growth of the country, its importance, not just as a manufacturing base but also as a consumer nation, is expected to further increase.
By establishing Thai subsidiary‘s representative office, Toray aims to further expand sales of engineering plastics (nylon resin, PBT resin and PPS resin) in the growing Vietnamese market by responding quickly to local customers and solving various issues swiftly.
Under the Medium-Term Management Program, Project AP-G 2019, Toray is promoting "expansion and advancement of global business," and the establishment of Thai subsidiary‘s representative office in Vietnam is also part of this initiative. The company will further expand the business in the ASEAN region, which is expected to continue to post significant economic growth, contribute to the economic development of the country and the region and grow the resin business of the Toray Group continuously.
