CORRECT: Toray: In 15-Year Pact To Supply Carbon Fiber Materials To Airbus
May 10 2010 - 4:14AM
Dow Jones News
Toray Industries Inc. (3402.TO) has reached a 15-year pact to
supply carbon fiber composite materials to Airbus from 2011, a
company spokesman said Monday.
The deal marks another major advance for Toray in beefing up its
presence in the global market for products made with carbon fiber -
a strong and lightweight material widely used in a range of
industrial applications. By its own estimate, Toray holds the
biggest share of the market at 34%.
In 2006, Toray signed a 16-year contract worth at least $6
billion to supply carbon fiber materials for Boeing Co.'s (BA) 787
Dreamliner aircraft.
The Toray spokesman said the monetary amount of the order has
not been determined. The Nikkei newspaper reported earlier Monday
that the deal could be worth as much as Y200-300 billion.
-By Hiroyuki Kachi, Dow Jones Newswires; 813-6269-2789;
Hiroyuki.Kachi@dowjones.com
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