Loan for Carbon Fiber Composite Materials Manufacturing and Sales Business of Toray Industries’ US Subsidiary
Supporting Overseas Business Expansion of Japanese Chemical Manufacturer
- Region: North America
- Manufacturing and Services
- Overseas Investment Loans
The Japan Bank for International Cooperation (JBIC; Governor: MAEDA Tadashi) signed on May 25 a loan agreement amounting to up to USD60 million (JBIC portion) with Toray Composite Materials America, Inc. (CMA), a US subsidiary of Toray Industries, Inc. (Toray). The loan is co-financed with Sumitomo Mitsui Banking Corporation and MUFG Bank, Ltd., bringing the total co-financing amount to USD120 million.
The loan is intended to finance part of the funds necessary for CMA to manufacture and sell carbon fiber composite materials.
In North America, the demand for carbon fibers is expected to grow for commercial aircraft, urban air mobility, pressure vessels, etc., and Toray aims to maintain and grow its North American market share. The loan will support the Japanese company’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses by drawing on its various financial facilities and schemes for structuring projects and by performing its risk-assuming function.