Toray and Daimler Form JV for Manufacturing Carbon Fiber-Based Automobile Parts

Toray Industries and automobile major Daimler (Stuttgart, Germany) say they have agreed to establish a joint venture at Esslingen, Germany for manufacturing and marketing of carbon fiber reinforced plastics (CFRP) automobile parts. Toray will have 50.1% stake in the jv, which is yet to be named, and Daimler will have 44.9% stake. The jv, which will manufacture and sell CFRP automobile parts, will be established in the first quarter of 2011. Toray had signed a joint development agreement with Daimler in March 2010 to develop automobile parts made of CFRP...

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