Toray Saehan, the Korean nonwovens producer, has changed its name to Toray Advanced Materials Korea, Inc., effective May 1. The company had been looking for a more suitable name for its company since its parent company Toray Industries bought out Saehan's remaining 30% stake in Toray Saehan in 2008.
In addition to the company name change, TAK has announced a new program, Vision 2020, targeting sales of $3 billion by 2020. These sales will not only be in nonwovens but in a number of to-be-launched areas includingwater treatment, carbon fiber and renewable energy.