Toray To Invest $1 Billion, Hire 500 In S.C.
COLUMBIA, S.C. — Toray Industries, Inc., a Tokyo-based manufacturer of fibers and textiles, plastic resins, films and carbon fiber composite materials, has selected Spartanburg County, S.C. for its next global facility. The $1 billion investment over the next decade is expected to create 500 new jobs and represents one of the largest initial capital investments in South Carolina's history.
Toray has acquired approximately 400 acres in Spartanburg County for its future business expansion. The site is located along Highway 290 in Moore, with access to Interstates 26 and 85. The Spartanburg facility will offer proximity to major customers in both the United States and in Latin America.
Akihiro Nikkaku, president of Toray Industries, said, "South Carolina offers Toray Industries an ideal location for our next North American manufacturing facility. Here we will have proximity to major customers, both in the U.S. and in Latin American markets. We appreciate the great working relationship we have established with the state and local officials, and we look forward to becoming part of the South Carolina business community."
According to a Toray announcement released Monday, the company plans to actively invest its resources to meet demand for its advanced material business base. Toray had already been considering a plan to locate a new, high-performance carbon fiber production facility to serve as a major supplier to the aerospace industry.Toray is the world's largest producer of carbon fiber, which has applications ranging from golf clubs to aircraft to natural gas pressure vessels.
Toray's acquisition of the commercial land in South Carolina is part of the company's strategic business expansion in growth fields and growth regions, which includes North America and Latin America, in addition to Asia.
Toray views the United States as a key expansion market for the company due to the revival in manufacturing that is pushing demand for advanced materials, particularly those used in the aerospace and energy-related industries. Aerospace in South Carolina is a burgeoning industry, with more than 200 aerospace companies employing around 20,000 South Carolinians.
Gov. Nikki Haley added: "It is truly a great day when we get to announce something this significant. Toray Industries' $1 billion investment and 500 new jobs will be a real game-changer for the Upstate and all of South Carolina. We congratulate Toray for their decision to come to Spartanburg County, and we look forward to helping them find continued success and opportunities to grow here in our state."
About Toray Group
Toray Group is an integrated chemical industry group developing its business in 23 countries and regions worldwide. Toray Group fuses nanotechnology into its operations, using organic synthetic chemistry, polymer chemistry and biotechnology as its core technologies. In addition to the Foundation Businesses of fibers & textiles and plastics & chemicals, Toray likewise promotes the global development of IT-related products, carbon fiber composite materials, pharmaceuticals and medical products, environment & engineering including water treatment and progress in other pivotal business fields.