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Honam Petrochemical to Enter Carbon Fiber Composites Business

4:13 AM MDT | September 1, 2010 | Natasha Alperowicz

Honam Petrochemical Corp. (Seoul), seeking to expand to new markets, says it will enter the carbon fiber composite business. The company has signed an agreement to buy a controlling stake in DACC Aerospace Co. (Seoul), a supplier of aircraft parts. Honam will take over a 50% stake plus one share in DACC, as part of the deal with DACC Co. Ltd., the parent of DACC Aerospace.  Honam and DACC Aerospace plan to develop a business supplying cabon fiber composites for aircraft through which they hope to generate sales of more than won200 billion ($168 million)...

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