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Toray Plastics (America), Inc., Appoints Richard Schloesser Chief Executive Officer

Wednesday, January 14, 2009

NORTH KINGSTOWN, RI — Toray Plastics (America), Inc., is pleased to announce that Richard Schloesser has been named Chief Executive Officer, effective immediately. He is the first American to achieve the company’s highest-ranking position. Schloesser most recently served the company as President and COO and will retain the title of President. Toray Plastics (America), Inc., is North America’s only manufacturer of value-added, precision-performance polyester (PET) and polypropylene (PP) film. Schloesser is now in charge of total management of the company, including the Torayfan® Division (PP), Lumirror® Division (PET), and PEF Division (olefin foams) and all their supporting functions. In addition, he will continue to oversee the company’s expansion of its packaging-film business in eastern and western Europe and act as an adviser to Toray Industries’ Board of Directors. Schloesser succeeds Kojiro Maeda who is returning to Toray Industries in Japan to assume the role of Deputy General Manager, Films Division.

“Rick’s leadership over the years has enabled Toray Plastics (America) to achieve outstanding results, including continued growth,” says Kojiro Maeda, former Chairman and CEO. “The company is in very good hands with Rick.”

“Toray’s legacy of success is a function of its commitment to excellence in all areas of its operations, especially in terms of innovation and service on behalf of the customer,” says Schloesser. “I look forward to helping the company maintain its focus on its core principles and ensuring its continued success.”

Schloesser began his tenure with Toray Plastics (America), Inc., in 1990 as a Sales and Marketing Manager of the Torayfan Division. He rose through the ranks at Toray to the positions of Vice President of Sales and Marketing, Senior Vice President of Sales and Marketing, Executive Vice President, and President and COO. Before joining Toray Schloesser was with ExxonMobil.

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$16 billion.

For more information about Toray Plastics (America), Inc.’s entire line of polypropylene and polyester films, contact Eric Bartholomay, Product Development Manager, at eric.bartholomay@toraytpa.com. Toray Plastics (America), Inc., is located at 50 Belver Avenue, North Kingstown, RI 02852-7500 telephone 401/294-4511, fax 401/294-3410. Visit the Toray Plastics (America), Inc., Web site at www.TorayFilms.com.

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