Zoltek starts huge expansion in its European unit in Hungary - VIDEO REPORT

Zoltek starts huge expansion in its European unit in Hungary - VIDEO REPORT

Zoltek starts huge expansion in its European unit in Hungary

Global carbon fiber manufacturer, belonging to the Japanese Toray Industries, starts an important development in its Nyergesújfalu plant. The only European location of Zoltek will be expanded by an EUR 106 million investment that results in a 50% capacity expansion making this unit the biggest carbon fiber producer in Europe. Following recent automotive trends, Zoltek aims to become the global standard for automotive structural applications as well.

Tokyo-based Toray Industries is an integrated chemical group active in 5 principal business divisions: chemical fibres and textiles; „Performance chemicals"; carbon fibre composite materials; life sciences; environmental protection and engineering. Their products are mainly used in industry, aviation industry, aerospace sector and in the manufacturing of sports goods. Japanese Toray Industries Inc. concluded a merger agreement with the US Zoltek Companies Inc. on 26 September 2013. Based on this agreement, it acquired Zoltek which is listed on NASDAQ stock exchange. As a result of the transaction completed in 2014, Zoltek Companies operates as an independent subsidiary of Toray now.

Now Zoltek produces various carbon fiber products and the raw material for carbon fibres, the so-called precursor fibres. PANEX® 35 produced by ZOLTEK has become a predominant carbon fiber in wind energy industry. It also reaches markets in oil drilling and research, infrastructural investments, shipping, the manufacturing of sports goods, pressure vessels and containers. Zoltek Automotive was established in order to help the development and spreading of the company's carbon fibres in the automotive industry.

Building on the basis of former Magyar Viscosa Rt., Zoltek has been present in Nyergesújfalu since 1995. Nyergesújfalu is the only European plant of the company. Worth EUR 106 million, this investment shall expand the present staff of more than 1,200 by more than 350 employees while the present production volume of 10,000 tons is going to increase to an annual 15,000 tons. By building the new production hall and installing eight new production lines, the biggest carbon fiber manufacturing base of Europe is going to be established in Nyergesújfalu, further strengthening the portfolio and the volume of automotive products, too. Products manufactured in Hungary are used in the turbines of windmills, brake equipments of aeroplanes and in the automotive industry, in particular to reduce the weight of electric vehicles in which future lies.