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Toyobo, with Indorama of Thailand, Acquires German Airbag Yarn Manufacturer PHP Fibers
 

Tokyo, Feb 4, 2014 (JCN) - On January 31, Toyobo of Osaka reached an agreement jointly with Indorama Ventures PCL of Thailand to acquire PHP Fibers GmbH, of Germany.

At present, Toyobo has manufacturing bases for airbag fabrics in Japan, Thailand, China, and the United States and supplies automotive airbag fabrics (including yarn for airbag fabrics) made of nylon 66, mainly to Japanese parts manufacturers.

PHP Fibers is a leading manufacturer of PA 66 industrial yarn for tire and MRG applications and of PET industrial yarn, and enjoys the global No. 2 market share in nylon 66 yarn for airbags.

The relationship between Toyobo and PHP began with a technology alliance for uncoated airbag fabrics in 1993. Since that time, the two companies have maintained cooperative relationships, from technical to business fields year by year.

Indorama is one of the world's leading producers in the polyester value chain and has developed polyester and PET resin businesses throughout the world. Toyobo and Indorama have technology alliances in the polyester textile and other fields.

Looking ahead, the demand for airbags is forecast to increase worldwide, especially in the emerging countries. Toyobo is aiming to expand its specialty businesses, including materials for airbags, globally, and thus strengthen its integrated supply systems of airbag materials overseas, from yarn through fabric.

Indorama has the objective of expanding its High Value Added (HVA) product portfolio with the addition of high performance automotive and industrial products and, therefore, shares a common interest with Toyobo. For these reasons, Toyobo and Indorama reached agreement to acquire PHP jointly.

By Jun Ota Staff Writer

Copyright © 2014 JCN. All rights reserved. A division of Japan Corporate News Network KK.


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