Toyobo and Indorama Ventures establishes a joint venture to build a new plant for automobile airbag yarns. The site will be constructed at Indorama Polyester Industries’ area in Rayong, Thailand with operations expected to commence in the first quarter of 2022.
Partnership between the two companies has been established for many years including the 2014 joint acquisition of PHP Fibers GmbH (PHP), a German airbag yarn maker that held the second-largest share in the world at that time. With predicted growth in the airbag market, this joint venture is expected increase efficiency to meet the demands of our customers worldwide.
In the photo (from left): Ashok Arora, CEO at Toyobo-Indorama Advanced Fibers Co., Ltd. (TIAF) Seiji Narahara, President at Toyobo Co., Ltd.