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TSI Changes Name to TAK

July 6, 2010

Name better reflects new ownership structure.

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.