Toray to expand air filter business in Republic of Korea

The new company, named M&T Engineering Co. Ltd. (hereinafter referred to as “M&TE”), will combine the assembling and processing as well as automation expertise of MCM with Toray’s integrated design and development technology starting from fibers and filter materials to assembled units, so as to build a local production setup for high performance filters necessary to expand the business in Republic of Korea as well as to supply to Korean manufacturers with global presence.

The Chung Ho Nais Group has a high share of the South Korean water purifier market, and has a broad business base with sales to major global players in the country in addition to exports to some 60 countries.

Toray has been producing non-woven fabric for air filters since 2012 at Toray Fibers (Nantong) Co., Ltd. (TFNL), its fiber production base in China, building a local production and supply structure adapted to the Chinese GB standards* so as to contribute to the measures against atmospheric pollution, which has become a serious social issue.

M&TE, the new company, will assemble filters that use TFNL’s non-woven fabric for high-performance filters, thus accelerating the sales expansion in the country as well as around the world by directly supplying to major home electronics and automobile manufacturers.

The global demand for air filters is expected to continue growing primarily in Asia and other emerging countries. In particular, the Korean market is an important target, given the anticipated spreading of the filter business to other parts of the world led by global players in various fields such as automobile and home electronics, in addition to the steady demand for the air cleaner application.

Toray and MCM will position M&TE as the base for global expansion of the air filter business, and along with strengthening the response to the local customers, will implement a strategy that will leverage the superiority of both companies while identifying new areas of applications.

*Chinese GB standard

Chinese national standards related to air cleaner initial performance and performance life.

Reference / Company profiles

1． M&TE

（1）    Name    ：    M&T Engineering Co., Ltd.

（2）    Location    ：    Inside MCM Co., Ltd. site in Jinchun-kun, 
                                       Republic of Korea

（3）    Representative    ：    Jinsoo Kim, Representative
                                                 Director & President

（4）    Business    ：    Assembly and sales of air filters

（5）    Capitalization    ：    6 billion won (600 million yen)

（6）    Established    ：    October 2018

（7）    Investment    ：    MCM – 60%, Toray – 40%

2．Toray Industries, Inc.

（1）    Location    ：    Chuo-ku, Tokyo

（2）    Representative    ：    Representative Director and
                                                 CEO Akihiro Nikkaku

（3）    Business    ：    Fibers and textiles, functional products, carbon fiber composite materials, environment and engineering, life science, and other manufacturing and sales.

（4）    Capitalization    ：    147.9 billion yen

（5）    Established    ：    1926

（6）    Sales    ：    2,204.9 billion yen    (the fiscal year ended
                                 March 2018) 

3．MCM Co., Ltd.

（1）    Location    ：    Jinchun-kun, Republic of Korea

（2）    Business    ：    Manufacturing and sales of water
              purifier filter, RO filter, etc. 

（3）    Capital    ：    1.5 billion won

（4）    Established    ：    2009

（5）    Sales    ：    46.3 billion won (2017)