People & Business :: M&A
Toray Buys out Arkema’s Stake in French Carbon Fiber Manufacturer
11:27 AM MST | January 11, 2012 | Deepti Ramesh
Toray Industries says it has purchased the remaining shares in Société des Fibres de Carbone (Soficar; Abidos, France), a subsidiary engaged in manufacturing and sales of carbon fibers, from Arkema. Toray held a 70% stake and Arkema held a 30% stake in Soficar. With the purchase of Arkema’s stake, Soficar has become a wholly owned subsidiary of Toray, and Soficar will be renamed Toray Carbon Fibers Europe (CFE; Abidos). Soficar was established in 1982 as a 65-35 joint venture between the former Elf Aquitaine and Toray. Toray increased its...
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