Nov. 17, 2014, 7:08 AM
- Boeing (NYSE:BA) has agreed to buy an additional $2.6B of lightweight, superstrong carbon fiber from Japanese chemical company Toray Industries (OTCPK:TRYIY) for the company's new 777X passenger jet.
- Toray already supplies Boeing with carbon fiber for its 787 airliner, under a long-term supply arrangement worth ¥700B ($6B) through 2021. The new agreement brings the total value to more than ¥1T over the next 10 years.
- Boeing and Toray also agreed to work together to increase the aerospace applications of carbon fiber, a material that has replaced metals in some parts of aircraft construction, reducing weight, fuel consumption and operating costs.
Sep. 27, 2013, 7:50 AM
- As tipped Thursday, Toray Industries (TRYIF.PK) is set to acquire carbon fiber maker Zoltek (ZOLT), although the price is lower than some anticipated (the deal was originally reported to be for more than $610M).
- The purchase price is $584M, which works out to around $16.75/share in cash — that's a 9% discount to Thursday's close.
- ZOLT -9.8% premarket.
Sep. 26, 2013, 3:41 PM| Sep. 26, 2013, 3:41 PM | 1 Comment
Dec. 27, 2011, 2:04 AM
Japan will ease some restrictions on weapons exports and allow them for international projects, following up on a proposal made last year. The move stands to benefit suppliers in the civilian aerospace industry such as Mitsubishi Heavy Industries (MHVYF.PK), Toray Industries (TRYIY.PK) and Kawasaki Heavy Industries (KWHIY.PK).| Dec. 27, 2011, 2:04 AM | 1 Comment