AlwaysFree: Toyobo, Indorama Agree On Joint Venture Production Of Automobile Airbags

Toyobo and Indorama Ventures have agreed to establish a joint venture firm to produce automobile airbags. The JV will operate a plant in Rayong Province, Thailand, which is expected to start production in the first quarter of 2022. The JV will be part of the Indorama Mobility Group and will produce PA66 airbag yarns. Toyobo and Indorama have cooperated closely in the mobility-related business. In 2014, both companies jointly acquired German airbag yarn maker  PHP Fibers GmbH. Demand for car airbags is expected to grow at an annual pace of  3% to 4%. More vehicles in emerging countries are required to have airbags installed. At the same time, a car now has more airbags installed.