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

Toray Industries and MCM Co (part of Chung Ho Nais Group) established a joint venture named M&T Engineering Co. Ltd. in South Korea, capitalized at 6 billion won. MCM holds 60% and Toray 40%, aiming to produce high-performance air filters.

- Type: Partnership
- Announced: 2018-11-12
- Where: Republic of Korea, South Korea
- Value: $5.40M (6.00B KRW)
- Status: announced
- Products: high-performance air filters
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Toray Industries](https://endata.com/companies/4565.md) (partner)
- [MCM](https://endata.com/companies/6820.md) (partner)
- [Chung Ho Nais Group](https://endata.com/companies/35446.md) (partner)

## Sources

- [nonwovensnews.com](https://www.nonwovensnews.com/industrial-products-news/14351-toray-to-expand-air-filter-business-in-republic-of-korea), 2018-11-12: "Toray and MCM will position M&TE as the base for global expansion of the air filter business"

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