The Teijin Group will accelerate the automotive rubber materials business in Thailand by establishing Teijin FRA Tire Cord (Thailand) Co. Ltd. in partnership with Ayaha Corp. Ayaha is a Japanese company specializing in tire cord production. It will hold a 33.34 percent stake in the venture, while Teijin Ltd and Teijin Frontier Co. Ltd. will own the rest. In an announcement, the new joint venture, with initial capital of Bt 380 million, will operate at the same venue as Teijin (Thailand) Ltd. in Bang Pa-in Industrial Estate, Ayutthaya. The operations will start in October 2015 with the 16,000 metric tons annual capacity. "The Teijin Group will develop midstream business by accelerating sales to Asia's expanding automotive industry, aiming to strengthen its local supply of automotive rubber materials, such as tire cord and hose cord, to customers in China and the Asean region," it said. The group also announced that it will expand the production capacity for automotive hose cord at a separate subsidiary, Teijin Cord (Thailand) Co. Ltd. The factory in Rojana Industrial Park in Ayutthaya will be upgraded at a cost of Bt 29 million to increase its annual capacity by 70 percent in April 2015. The group's main fields of operation are high-performance fibers such as aramid, carbon fibers and composites, healthcare, films, resin and plastic processing, polyester fibers, products converting and IT. With operations in over 20 countries, it showed consolidated sales of $7.7 billion during April 2013 through March 2014.

Source: rubberworld.com