Toray Advanced Materials Chairman & CEO Lee Young-kwan.

Toray Advanced Materials Chairman & CEO Lee Young-kwan, in his New Year’s message, called for the company to make moved towards restructuring and maximizing synergy.

Toray Advanced Materials set three management tasks for 2016: reforming business portfolios and innovating fundamentals; maximizing organizational synergetic effects; and strengthening a foundation for future growth.

In his message, Chairman Lee said, “Hard conditions, including Korea’s sagging exports and domestic demand, coupled with such complex global risks as financial market fluctuations, low crude oil prices and the declining growth rate of the Chinese economy persist.” Lee urged his officers and employees to ramp up efforts to enhance profits in the face of the low growth rate of the Korean economy.

Toray Advanced Materials set 2016 as the year it will build foundation to make “a leap forward” by restructuring and maximizing synergetic effects.

“We’ll ensure to achieve management goals through dramatic restructuring and innovating of fundamentals,” Chairman Lee said. 

Chairman Lee called for maximizing business and organizational synergies and exploring new ideas based on each business’ strengths and capabilities. He also wants them to explore new markets. 

Toray Advanced Materials will strive to stabilize new businesses, particularly by ramping up marketing activities in the carbon fiber, polyphenylenesulfide (PPS) resin, and non-woven fabric areas, and concentrating on exploring new markets, he said. 

The company plans to focus on creating an environment based on trust and creativity. “We’ll strive to develop a futuristic labor-management environment based on improved work efficiency and trust by enhancing organization concentration through smooth communication and cooperation,” Lee stressed. 

A view of Toray Advanced Materials’ plant (Photos:Toray Advanced Materials)

Toray Advanced Materials Strives to Ensure Accident-Free Workplaces

Some 80 executives, team chiefs and working-level officials at the 1st Gumi plant of Toray Advanced Materials got together for a strategic meeting designed to review steps to ensure accident-free workplaces. 

Reflecting on last year, the participants of the meeting shared information on each team’s strategies. The Environment Safety Headquarters and five others presented on the 2016 strategies. 

Participants of the meeting decided to make continuous efforts to improve all officers and employees’ awareness of safety. They also vowed to stage activities designed to ensure safety on a voluntary basis and in a practical fashion. To this end, Toray Advanced Materials plans to put into practice such things a monthly Safety Day, labor-management’s joint check-ups and strengthening patrols.