May 14, 2013

TORAY PLASTICS (AMERICA) CELEBRATES LAUNCH OF NEW COATING EQUIPMENT

Rhode Island governor praises Toray’s commitment to the state at ribbon-cutting ceremony; expansion boosts local employment.

North Kingstown, Rhode Island (May 14, 2013)—Toray Plastics (America), Inc. (www.torayfilms.com), celebrated the launch of new coating equipment at a ribbon-cutting ceremony held on May 2 on the company’s 70–acre campus in North Kingstown, Rhode Island. The new technology will enable the company to meet global customer demand for industrial and packaging films made with advanced specialty layers. The event was hosted by Toray’s President and CEO, Rick Schloesser, who welcomed Lincoln D. Chafee, Governor of Rhode Island, M. Teresa Paiva Weed, Senate President, and Gordon D. Fox, House Speaker.

Addressing the audience, Schloesser noted that the US$15 million investment in the new coating equipment completes the first phase of the company’s advanced technology integration plan, which is part of its global growth strategy. He also spoke of Toray’s dedication to the Rhode Island community and said that the expansion has already added 12 new people to its ranks of 600-plus employees. Toray expects that its investment will ultimately create 20 jobs.

In his remarks, Governor Chafee referred to “a great day for Rhode Island as one of our largest employers continues to grow its business footprint.” He went on, “It continues to be a valued tenant of the Quonset Business Park a quarter century after it made the decision to invest in our great state."

As Senate President M. Teresa Paiva Weed pointed out, “The new equipment is about Toray’s meeting customer demand better and maintaining its edge in an extremely competitive market. It’s a wise business investment. For Rhode Islanders, it represents a continued investment in our state by a valued employer. It further demonstrates the continued growth and economic vitality of Toray, a valued partner in our economic development efforts.”

Gordon D. Fox, House Speaker, called Toray “a trend-setter,” and added “The new technology will enable Toray to ensure that it will thrive for many years to come.  With 600 employees and still growing, it is one of the most important companies in Rhode Island.  We stand ready as state officials to offer continued support to this great company.”

Toray Plastics (America), Inc., is a leading manufacturer of polyester, polypropylene, bio-based, and metallized films for flexible and rigid packaging, lidding, graphic, industrial, optical, and electronic applications. The company is a subsidiary of Toray Industries, Inc., the world leader in synthetic fibers and textiles, carbon fibers, plastics, chemicals, pharmaceuticals, and high-performance films, which has annual sales exceeding US$19 billion. For more information about the complete line of Toray films, contact Mary Gervais at mary.gervais@toraytpa.com. Toray Plastics (America), Inc., is located at 50 Belver Avenue, North Kingstown, RI 02852-7500; telephone 401-294-4511, fax 401-294-3410. Visit the Toray Plastics (America), Inc., website at www.TorayFilms.com.

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Caption: Toray Plastics (America), Inc., launched new US$15 million coating equipment at a ribbon-cutting event attended by (from left to right) Rhode Island Governor Lincoln D. Chafee, Rick Schloesser, President and CEO of Toray Plastics (America), M.Teresa Paiva Weed, Senate President, and Gordon D. Fox, House Speaker