Japan's Toray agrees to buy U.S. Zoltek for $584 million
TOKYO (Reuters) - Japan's Toray Industries Inc (3402.T) said it has agreed to buy U.S.-based Zoltek Companies Inc (ZOLT.O) for $584 million in order to increase its share of the worldwide carbon fiber market.
Toray, a carbon fiber maker which supplies the cutting edge materials used in Boeing Co's (BA.N) Dreamliner airplanes, said its acquisition of Zoltek will allow it to supply lower-cost carbon fibers for wind turbines and cars.
(Reporting by Nobuhiro Kubo and Mari Saito; Editing by Edmund Klamann)
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