Toyobo: JV for new plant for automobile airbag yarns

Toyobo: JV for new plant for automobile airbag yarns

A joint venture (JV) company to produce yarns for automobile airbags will be set up by the specialty chemical company Toyobo Co., Ltd., Osaka/Japan, in agreement with Indorama Polyester Industries PCL (IPI), Bangkok/Thailand, a subsidiary of chemical company Indorama Ventures Public Co. Ltd. (IVL), Bangkok. The joint company plans to build a new plant on the IPI factory site in Rayong Province, Thailand, and start operations in Q1/2022.
The airbag market is expected to continue growing at 3-4% annually thanks to an increase in the number of airbags installed per vehicle and growth in the proportion of vehicles equipped with airbags in emerging economies. In 2014, Toyobo and IVL jointly acquired PHP Fibers GmbH, Wuppertal/Germany, an airbag yarn maker that held the second-largest share in the world at that time.
The new 50/50 JV will carry the name Toyobo-Indorama Advanced Fibers Co., Ltd. (TIAF) and is scheduled to be established in November 2020. The expected capacity is put at a maximum of 11,000 tons/year.

Source:
dfv media group