CORRECT: Toray: In 15-Year Pact To Supply Carbon Fiber Materials To Airbus

Toray Industries Inc. (3402.TO) has reached a 15-year pact to supply carbon fiber composite materials to Airbus from 2011, a company spokesman said Monday.

The deal marks another major advance for Toray in beefing up its presence in the global market for products made with carbon fiber - a strong and lightweight material widely used in a range of industrial applications. By its own estimate, Toray holds the biggest share of the market at 34%.

In 2006, Toray signed a 16-year contract worth at least $6 billion to supply carbon fiber materials for Boeing Co.'s (BA) 787 Dreamliner aircraft.

The Toray spokesman said the monetary amount of the order has not been determined. The Nikkei newspaper reported earlier Monday that the deal could be worth as much as Y200-300 billion.

-By Hiroyuki Kachi, Dow Jones Newswires; 813-6269-2789; Hiroyuki.Kachi@dowjones.com

Toray Industries (PK) (USOTC:TRYIY)
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