Toray Industries, Inc., today announced that Toray Industries (India) Private Limited began manufacturing polyamide (PA) and polybutylene terephthalate (PBT) at a new facility in September. These resins offer outstanding toughness and resistance to heat and chemicals. Key applications include components for automotive and electrical and electronic. This first Indian plastic compounding unit of a Japanese manufacturer should reach its full operating capacity of around 5,000 metric tons in the near future.
The Indian economy is set to expand at around 6% annually from 2019 through 2030. Demand should grow for engineering plastics as rising incomes drive demand for luxury and high-value-added goods, among them automobiles and appliances. Toray set up the new facility to swiftly capitalize on this potential and build its business in India by stabilizing supplies and cutting lead times, optimizing inventories and delivery, and bolstering local development.
Toray also looks to produce polyphenylene sulfide (PPS) at the Indian facility and set up a technical center there to serve a rising local need for high-performance products and materials. Identifying Indian requirements in product development will equip Toray to cater more responsively to increasingly complex customer requirements amid tightening environmental regulations.
One basic strategy of Project AP-G 2019, Toray's medium-term management program, is to expand and advance its global business. The company accordingly plans to position the Sri City plant of Toray Industries (India) as a base for serving the Indian, Southeast Asian, and other markets around the world.
Profile of Toray Industries (India) Private Limited
1. Date established: January 2014
2. Headquarters: Gurgaon, Haryana, near New Delhi
3. Capitalization: 10,543 million Indian rupees
4. Shareholders: Toray Industries, Inc., and Toray International, Inc.
5. CEO: Shigekazu Suenaga
6. Businesses: Researching the Indian market, supporting the Toray Group's expansion in and entry into India, and manufacturing resin compounds