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Toray to acquire US carbon fiber firm Zoltek for $584 million

8:34 AM MDT | October 4, 2013 | —Deepti Ramesh

Toray Industries has reached agreement to acquire Zoltek (St. Louis) for $584 million in a bid to enter the market for large-tow carbon fibers, which has applications in automotive and wind turbines. The deal is expected to be completed by early 2014, pending regulatory approvals. Toray has a leading global position in regular-tow carbon fiber used in high-performance application, such as aerospace. Toray has invested heavily to expand its carbon fiber business in recent years. The company announced in March 2012 that it will invest a total of ¥45 billion...

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