Toyobo resolved to acquire the remaining 50% stake in Toyobo Indorama Advanced Fibers Co., Ltd. (TIAF) from Indorama Polyester Industries PCL, making TIAF a wholly owned subsidiary. TIAF is an airbag yarn manufacturer in Bangkok, Thailand.
Toyobo Co., Ltd. and Indorama Polyester Industries PCL (IPI) agreed to establish a joint venture, Toyobo-Indorama Advanced Fibers Co., Ltd., to produce PA66 airbag yarns. A new plant will be built on IPI's factory site in Rayong Province, Thailand, with operations starting in Q1 2022.
Toyobo Co. Ltd. agreed to set up a joint venture with Indorama Polyester Industries PCL to build a new plant for nylon 6,6 airbag yarns on the IPI factory site in Rayong Province, Thailand, with operations starting in Q1 2022.