January 24, 2011 / 7:18 AM / 9 years ago

Daimler,Japan's Toray to form carbon-fibre parts JV

TOKYO, Jan 24 (Reuters) - Daimler AG (DAIGn.DE) and Toray Industries (3402.T), Japan’s top maker of synthetic fibres, said on Monday they would form a joint venture to produce and sell lightweight carbon fibre parts aimed at improving the fuel economy of cars.

The company, to be capitalised at 825,000 euros ($1.12 million), will be held 50.1 percent by Toray, 44.9 percent by Daimler and 5.0 percent by others, the companies said.

The new venture will be established in March. (Reporting by Kentaro Sugiyama; Writing by Chang-Ran Kim)

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