TOKYO—Tosoh Corp. has unveiled a $1.4 billion investment plan to expand production capacity and improve earnings during the 2023-25 period.
Under the medium-term business plan, Tosoh will increase output of a range of products, including polychloroprene rubber, flame retardants and other additives in rubber production.
Tosoh manufactures chloroprene rubber at its site in Nanyo, Japan.
In 2019, the Japanese supplier started a two-year debottlenecking project to raise capacity of the plant by 3,000 metric tons per annum (3 ktpa) to 37 ktpa.
The chemical group's business plan announcement, issued 10 Aug, did not provide details on the size of the capacity expansions.
Under the medium-term program, Tosoh aims to increase its operating income to $1.08 billion by 2025, from the $1.04 forecast for 2022.
The company also expects sales to increase from an estimated $6.4 billion this year to $8.4 billion by 2025.
