Sept 26 Japan's Toray Industries Inc
will buy U.S-based Zoltek Cos for $600-$700 million to
increase its share of the global carbon fibre market to 30
percent, the Nikkei reported.
Toray plans to start producing lower-priced carbon fibre
with the deal, the business daily said.
Zoltek's products, used in construction materials and
autoparts, are priced at about 60 percent of Toray's
high-performance carbon fibre, the paper said.
Zoltek could not be reached for a comment.
Shares of the company, which had a market capitalization of
$565 million as of Wednesday's close, were up 12 percent on the
Nasadaq on Thursday afternoon at $18.35.
Carbon fibre is lighter than steel, but higher prices have
limited its use, the paper said.
The deal expected to be announced on Friday.