Japanese Toray Industries has agreed to acquire shares in Hong Kong based Pacific Textiles Holdings to pursue its global strategic expansion and synergy effects through supply chain integration and collaboration. Toray has signed a share purchase agreement today to acquire 28.03 per cent stake in Pacific Textiles from Far East Asia Limited, a company solely owned by Ip Ping Im, a Director of Pacific Textiles, and from his wife, Ip for a total consideration of HK$ 4,053,940,000. Closing is expected to occur mid-July 2017.