Toray president, Katsuhiko Hirai, was optimistic about the company's future at a press conference held in Osaka this week. Revenue and profits were up in the first half and Toray's strategy was in place for the second half.

"Destabilizing factors such as increased raw material prices are numerous, but implementation of global re-engineering of our core fibres and chemicals will get into full swing and structural reform will be accelerated," he said.

In addition he disclosed that dyeing capacity at the integrated polyester filament operation in Nantong, China will be raised from the present 2 million metres/m to 2.5 million meters/m, with completion scheduled for the end of next year.

He further announced that the fibre manufacturing location Toray Fibers (Nantong) (TFNL) was considering boosting its polymerisation capacity. A polyester staple installation was also a possibility.