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Mitsubishi Rayon and PTT together explore a joint venture in carbon fiber business in ASEAN

News International-French

12 Sep 2013

Companies expect high growth of carbon fiber demand in the region of South East Asia where the local demand still remains high and believe that Thailand will be the strategic location for their new facility due to its fully developed automotive industry.

Mitsubishi Rayon Co., Ltd. (MRC), and PTT Public Company Limited announced the MOU signing of a joint study of carbon fiber bushiness in ASEAN Economic Community (AEC). The joint study will target downstream businesses in automotive, energy (natural gas and renewable energy), civil engineering and infrastructure.
MRC and PTT anticipate up to 100 billion JPY (up to 30 billion THB) sales of carbon fiber composites by 2020 in the region. The joint study will include an evaluation of potential demands for carbon fiber in Thailand and South East Asia region together with the feasibility study of new carbon fiber and its composites plant in Thailand. At the beginning stage, the joint collaboration will mainly focus on exploring automotive part and pressure vessel demands as the first priority. PTT, together with MRC believe that low cost natural gas containers made of extremely strong and light weight carbon fiber composites are the key technological breakthrough which will contribute to the transportation sector, unfolding the possibility to maximize fuel efficiency globally. Both companies expect to conclude the joint study by the end of 2013.   
MRC, one of the leading carbon fiber manufacturers, continues to grow by expanding its capacity to meet global demand for carbon fiber products. A joint collaboration with PTT enhances MRC to globalize its manufacturing capability and support Asian customer base. MRC’s expertise in manufacturing carbon fiber composites will be contributed to joint collaboration.
PTT, as a fully-integrated energy company in Thailand who operates in upstream toward downstream products including various types of petrochemical products, believes that value can be brought in to the joint study through its strong market network in the region. This potential investment will be a stepping stone for PTT towards its growth strategy to be a technologically advanced and green national oil company. PTT aims to develop high technology material and integrate into its supply chain products while offering more product choices to customers to fulfill responsibility as the national oil company of Thailand and all stakeholders.