"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Wednesday, April 26, 2006

Toray can expect world market share of PAN carbon fibre to grow.

Japan's Toray Industries Inc. have announced orders from Boeing for PAN carbon Fibre worth US$3 Bn.billion for the Boeing 787 Dreamliner passenger jet. Toray now hold about 32% of global supply which they want to boost to 39% by 2010 to 13,900 tons per annum and to 24,000 tons by 2010.

The high-margin carbon fiber business is a key growth area division is forecast to generate 50 Bn. yen sales with profits of 11 Bn. yen.

Toray has forecast sales of 1.43 Trillion yen and an operating profit of 92 Bn yen on for the last business year.The news sent shares of Toray up 5.4 percent to 1,002 yen outperforming the benchmark Nikkei average, which was up about 0.2 percent.

Toray not only benefits from this deal but is looking at a major increase in a share of Airbus work - which may get an even bigger boost if plans by Airbus to move some manufacture to China are realised.

Toray is evaluating opening a European prepreg carbonfibre production facility to support the Airbus A350 and other European aircraft programmes, they hope to sign an important pre preg Airbus deal soon. Toray manufactures non prepreg carbonfibre for other Airbus aircraft, including the A380, through deals with first- and second-tier suppliers, but has never provided prepared carbonfibres directly to Airbus. Qualifying anew plant can take two years.

Toray only produces prepreg carbonfibres at its Tacoma, Washington facility. Last year plans to expand its Japanese Ehime plant to meet soaring demand driven by its exclusive supplier deal with Boeing for the 787 were announced. This was motivated by the large number of Japanese suppliers (43 at last count) to the 787 program - as well as supplying composite plants in Chengdu , China.

Airbus has tentatively selected Hexcel and Toray to supply prepreg carbonfibre for the A350 program going head to head against the Dreamliner 787, but has not yet awarded raw material contracts for the new aircraft programme.

Toray joint venture Soficar already manufactures in France,producing non- prepreg carbonfibre. The recently upgraded 114,000m2 (1.23 million ft2) Toray Composites America factory in Tacoma is now the only supplier of prepreg carbonfibre for the 777 and 787.

So whichever way the 777/787/A350/A380 fight goes, Toray will be a winner. So far this year Boeing are in the lead with orders. 176/70 after 4 years dominance by Airbus.

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