High-Performance Fibers - Sales of Twaron para-aramid fibers remained favorable, reflecting firm demand, particularly for automotiveand safety-related applications. Demand for Tenax carbon fibers continued to expand, owing to rising demand for use in industrial materials and aircraft, notably in the European and U.S. markets.
Against a background of soaring demand, we completed new production facilities for Twaron para-aramid fibers prior to the end of 2006. We also completed new facilities for Tenax carbon fibers in September 2006. In addition, we made the decision to build additional production facilities for aramid fibers, the first of which is scheduled for completion at the end of 2008, and have begun construction of a large-scale carbon fibers production line, a project we expect to finish in April 2008.
Films - In Japan, we continued to register robust sales of polyethylene terephthalate (PET) film for liquid crystal display (LCD)-related applications and polyethylene naphthalate (PEN) film for use in magnetic applications. In October 2006, we completed new facilities for clear, thick PET film that came on line in January 2007.
In the United States, where competition is intensifying as rising raw materials prices and fuel costs continue to prompt an influx of low-priced imported products, we focused on an improved product mix centered on products for high-value-added applications, and ongoing rationalization efforts.
Textiles and Apparel - Our mainstay OEM business faced a harsh environment, as rising raw materials prices and fuel costs and a strong Chinese currency drove up costs. Sales of textile items to Europe were soft. Nonetheless, sales were bolstered by efforts to reinforce the overall operating foundation of this business, from planning to manufacturing and sales.
Industrial Textiles and Materials - Sales of high-performance fibers for rubber reinforcements used in automobiles, as well as for bag filters and other products for environmental applications, were solid. On another front, we proceeded gradually with efforts to reinforce supply capabilities.
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