Richard Schloesser Named President and Chief Operating Officer of Toray Plastics (America), Inc., and Senior Director of Toray Industries, Inc.


North Kingstown, RI (June 9, 2008)-Toray Plastics (America), Inc., North America's only manufacturer of precision-performance polyester (PET) and polypropylene (PP) films, is pleased to announce that Richard Schloesser has been appointed President and Chief Operating Officer. In that new management role, Schloesser will be responsible for expanding North American operations, including the Torayfan® Division (polypropylene film), Lumirror® Division (polyester film), and PEF Division (olefin foams), and driving the development of the packaging-film business in eastern and western Europe. In addition to managing the operating divisions of Toray Plastics (America), Inc., Schloesser will oversee all of the company's supporting functions and will be an adviser to Toray Industries' Board of Directors. The appointment will be effective June 26. He succeeds Kojiro Maeda who will become Chairman of the Board.

Schloesser's many achievements during his 18 years of service with Toray Plastics (America), Inc., have been significant. Most recently he has been instrumental in Toray's enjoying a commanding success in the highly competitive packaging- and industrial-films markets. He also spearheaded Toray Plastics (America), Inc.'s expansion into Europe, establishing a business unit in Toray Films Europe S.A.S. (also known as TFE), in Rhone-Alpes, France, for the production and development of Torayfan value-added biaxially oriented polypropylene high-barrier metallized film starting in 2010.

"Rick Schloesser's outstanding service to Toray and remarkable accomplishments distinguish him as a vital leader within the company and the industry," says Kojiro Maeda. "His stewardship has been critical to the company's growth and we anticipate only continued success from Rick in his new position."

"I'm very pleased to be recognized by the Board of Directors and look forward to helping the company maintain its vitality, drive to innovate, manufacturing excellence, and competitive spirit," says Schloesser.

In 2007 Schloesser was named Toray Plastics (America), Inc.'s first American Executive Vice President. For the past year, as part of the Toray Industries' Localization Program, a global growth strategy, he has provided unified American leadership to Toray Plastics (America), Inc.'s Torayfan Division, its Lumirror Division, and the Virginia-based Toray Plastics (America), Inc., PEF Division. Prior to that appointment, Schloesser had served as Senior Vice President and General Manager of the Torayfan Division since 2002. He began his tenure with Toray Plastics (America), Inc., in 1990 as a Sales and Marketing Manager of that division and eventually held positions as Vice President of Sales and Marketing and Senior Vice President of Sales and Marketing. Before joining Toray Plastics (America), Inc., Schloesser was with ExxonMobil, including 13 years with the company's oil business and 9 years with the films division.

Toray Plastics (America), Inc., is a leading manufacturer of polyester and polypropylene films for flexible and rigid packaging, lidding, graphic, industrial, optical, and electronic applications. The company is a subsidiary of Toray Industries, Inc., the world leader in synthetic fibers and textiles, carbon fibers, plastics, chemicals, pharmaceuticals, and high-performance films. Annual sales exceed US$12 billion. Visit the Toray Plastics (America), Inc., Web site at www.TorayFilms.com.

Claudia Kreiss
Kreiss Communications
536 Bloomfield St.,Hoboken, NJ 07030
O: 201-963-2394;F: 201-963-7744
ckreiss@kreisscommunications.com

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