# Toray and MCM establish joint venture M&T Engineering in South Korea

Toray Industries and MCM Co., Ltd. will establish a joint venture company named M&T Engineering in South Korea, capitalized at 6 billion won (about ¥600 million), with MCM holding 60% and Toray 40%. The JV will produce high-performance filters using Toray's nonwovens and MCM's filtration expertise.

- Type: Partnership
- Announced: 2018-11-05
- Where: Republic of Korea, South Korea
- Value: $5.30M (6.00B KRW)
- Status: announced
- Products: high-performance air filters, nonwoven fabric for air filters
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [M&T Engineering](https://endata.com/companies/35316.md)
- [Toray Industries](https://endata.com/companies/4565.md) (partner)
- [MCM](https://endata.com/companies/6820.md) (partner)

## Sources

- [nonwovens-industry.com](https://www.nonwovens-industry.com/breaking-news/toray-partners-with-water-purification-specialist/), 2018-11-05: "The company will be capitalized at 6 billion won (about ¥600 million), with MCM having a 60% stake and Toray investing 40%."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.