Japan's Toray to stop producing parts for Mitsubishi Aircraft's SpaceJet: Nikkei [Yahoo! Finance News]
TORAY INDUS INC UNSP/ADR (TRYIY)
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Source: Yahoo! Finance News
Japan's Toray to stop producing parts for Mitsubishi Aircraft's SpaceJet: Nikkei Reuters) - Toray Inc will not produce carbon fiber parts for Mitsubishi Aircraft's SpaceJet because delays to the regional jet program mean the work is unlikely to be profitable, the Nikkei newspaper reported on Thursday. Toray, which is a major supplier of light weight carbon fiber components to aircraft makers, had planned to supply stabilizers for the SpaceJet's tail. Those part will now be built in-house by Mitsubishi Aircraft, a unit of Mitsubishi Heavy , the Nikkei said. Officials at Toray and Mitsubishi Aircraft were not immediately able to comment. Originally meant to go into operation in 2013 with Japanese airline ANA Holdings, the Mitsubishi plane has been delayed five times. Mitsubishi Aircraft is considering a fresh delay as it struggles to gain certification for the regional jet. Reporting by Tim Kelly; editing by Simon Cameron-Moore)
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