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Toray Industries, Inc Invests $1 Billion In Moore, South Carolina, Carbon Fiber-Advanced Materials Production Facility

Area Development Online News Desk (02/18/2014)
Toray Industries, Inc., a Japan-based manufacturer of fibers and textiles, plastic resins, films and carbon fiber composite materials, selected Moore, South Carolina, for its next global carbon fiber facility. The $1 billion investment over the next decade is expected to create 500 new jobs Spartanburg County.

The company acquired approximately 400 acres in Spartanburg County for its future business expansion, along Highway 290 in Moore, with access to Interstates 26 and 85. The Spartanburg facility will offer proximity to major customers in both the United States and in Latin America.

"South Carolina offers Toray Industries an ideal location for our next North American manufacturing facility. Here we will have proximity to major customers, both in the U.S. and in Latin American markets. We appreciate the great working relationship we have established with the state and local officials, and we look forward to becoming part of the South Carolina business community,” said Akihiro Nikkaku, President of Toray Industries.

Toray officials said the company plans to actively invest its resources to meet demand for its advanced material business base. Toray had already been considering a plan to locate a new, high-performance carbon fiber production facility to serve as a major supplier to the aerospace industry. Toray is the world's largest producer of carbon fiber, which has applications ranging from golf clubs to aircraft to natural gas pressure vessels.

Toray said its acquisition of the commercial land in South Carolina is part of the company's strategic business expansion in growth fields and growth regions, which includes North America and Latin America, in addition to Asia. Toray said it views the United States as a key expansion market for the company due to the revival in manufacturing that is pushing demand for advanced materials, particularly those used in the aerospace and energy-related industries.

"It is truly a great day when we get to announce something this significant. Toray Industries' $1 billion investment and 500 new jobs will be a real game-changer for the Upstate and all of South Carolina. We congratulate Toray for their decision to come to Spartanburg County, and we look forward to helping them find continued success and opportunities to grow here in our state,” Governor Nikki Haley said.

"We are extremely excited to welcome Toray to Spartanburg County. We know who the golden goose is here in Spartanburg, and that is business and industry. For two decades, we have had an excellent partner in BMW, and we expect Toray to have a similar effect in our region. This is the result of a great partnership between Toray, the State of South Carolina and Spartanburg County, and we appreciate the efforts of the Department of Commerce over the years to see this project to fruition," said David Britt, Chairman of Economic Development Committee, Spartanburg County Council.

"Toray's selection of Spartanburg is a great example of our community's public/private partnership in recruiting quality companies. Our core team of economic development professionals has worked tirelessly to provide Toray with the needed information to come to this decision and we are appreciative of all the efforts made locally to ensure we got to this point,” said Russ Weber, Chairman of the Spartanburg Economic Futures Group Board of Directors.

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