JAPAN: Toyobo Grows With Thai Airbag Subsidiary
Leading textile manufacturer Toyobo Co has unveiled plans to set up a wholly owned subsidiary to sell cloth for car airbags. Toyobo Industrial Material (Thailand) Ltd will be capitalised at 100 million baht, or roughly 272 million yen, a company spokesman said. From February, the firm will sell nylon cloth manufactured in Bangkok by Erwan Textile Co, a company owned jointly by Toyobo, Japanese trading company Marubeni Corp and a local firm.
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