Toray Industries: Agreed Carbon-Fiber R&D Pact With Daimler

Toray Industries Inc. (3402.TO) has reached an accord with Germany's Daimler AG (DAI) to jointly develop carbon fiber composite for use in Mercedes-Benz SL vehicles from 2012, a Toray spokesman said Wednesday.

The spokesman added that further details of the pact will be released at 0130 GMT.

Japan's largest synthetic fiber maker by sales expects demand for carbon fiber to grow among automakers. The material is currently used in a wide range of industrial applications, including in aircrafts, fuel tanks for compressed natural gas cars and blades for power-generating windmills.

In 2006, Toray signed a 16-year contract worth at least $6 billion to supply carbon fiber materials for use in Boeing Co.'s (BA) 787 Dreamliner aircraft.

-By Hiroyuki Kachi, Dow Jones Newswires; 813-6269-2789; Hiroyuki.Kachi@dowjones.com

Toray Industries (PK) (USOTC:TRYIY)
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