March 13 (Bloomberg) -- Toray Industries Inc., the world’s largest producer of carbon fiber, set up a sales office in Madrid, Spain, to expand its water treatment business in North Africa and the Middle East.
The Tokyo-based company makes filters to clean water and has won orders in the United Arab Emirates and China. The market for membranes to treat seawater and wastewater is expected to expand, Yoshinari Fusaoka, general manager in charge of Toray’s water treatment business, said.
Demand for the technology isn’t limited to areas where clean water is scarce as there is increasing need to recycle the resource, the official said in an interview yesterday.
“Business opportunities are all over the world so we need to have a global sales network and global production capacity,” Fusaoka said.
The sales office, Toray Membrane Spain S.L., will hold an opening ceremony today, Fusaoka said. Toray has six other major sales offices including in Singapore, the UAE and China. The company’s four production plants are located in Japan, the U.S., China and South Korea. Toray owns a 92.5 percent stake in Toray Membrane Spain S.L.
Being in Spain will make it easier for Toray to develop projects with Spanish engineering companies, Fusaoka said.
“They are very aggressive in overseas expansion in the Middle East, North Africa, and South America, so we want to appeal to them and being there increases our credibility,” he said.
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