Toho Tenax Co., Ltd., the core company of the Teijin Group's carbon fibers business, announced today that it has established a Singapore office and added personnel to its Shanghai office, aiming to strengthen its carbon fiber business in the fast-growing Asian market.
The Singapore office will lay the groundwork for market development by conducting research to identify demand and cultivate customers in Singapore, Thailand, Malaysia and Vietnam, plus India and Oceania.
The Shanghai office, which has been operating since 2003, will reinforce market research activities in China with personnel added as of June 1.
Demand in Asia for carbon fibers, particularly for industrial applications such as wind-turbine generators, is expected to double between now and 2015. With this trend in mind, Toho Tenax expects to incorporate its offices in Singapore and Shanghai in the foreseeable future as part of its strategy to strengthen carbon fibers business in Asia.