TKK Toray Inds.

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RNS Number : 6211P

Toray Industries Inc

03 October 2013

September 27, 2013

Toray Industries, Inc.

Toray's Consolidated Subsidiary TAK Secures Preferential Negotiating Right Regarding Share Acquisition of Woongjin Chemical

Toray Industries, Inc, (headquarters: Chuo-ku, Tokyo; President: Akihiro Nikkaku; hereinafter referred to as "Toray") today announced that its consolidated subsidiary Toray Advanced Materials Korea Inc. (headquarters: Seoul, Republic of Korea; Chairman: Lee Young-kwan; President: Kim Sang-pil; hereinafter referred to as "TAK") secured, on September 27, preferential negotiating right in the auction sale of an approximately 56.2% stake in Woongjin Chemical Co., Ltd. (headquarters: Seoul, Republic of Korea; President Park Chankoo).

Regarding the outcome of future negotiations, Toray will announce new developments and when the status becomes clear.

<Reference>

1. Profile of TAK

   (1) Name                     Korean name: 

English name: Toray Advanced Materials Korea Inc.

   (2) Location                 Seoul, Republic of Korea 
   (3) Representative        Chairman & CEO: Lee Young-kwan 

President & COO: Kim Sang-pil

   (4) Capital                    475 billion won 
   (5) Investment ratio       Toray 100% 
   (6) Established             October 1999 (The company changed its name in May 2010) 

(7) Business Manufacture and distribution of PET film, polyester fibers, non-woven fabric, processed film products, materials for printed circuits, water treatment membrane modules, and carbon fibers

2. Profile of Woongjin Chemical Co., Ltd. (before the share sale)

   (1) Name                    Woongjin Chemical Co., Ltd. (Listed on KRX) 
   (2) Location                 Seoul, Republic of Korea 
   (3) Representative        CEO: Park Chankoo 
   (4) Capital                    237.2 billion won 
   (5) Investment ratio       Woongjin Holdings Co., Ltd 46.3% 
   (6) Established              1972 

(7) Business Manufacture and distribution of high-performance fibers, water treatment filter, A-PET sheets (cast film), etc.

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This information is provided by RNS

The company news service from the London Stock Exchange

END

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