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Teijin Restructures Polyester Fibers Business, Consolidates US Film Production

Tokyo-based Teijin Group - a global conglomerate including man-made fibers, films and plastics, home healthcare and pharmaceuticals, trading and retail, and information technology businesses - is restructuring its Polyester Fibers business as part of its implementation of a new basic management policy, announced in April (See " Teijin To Implement New Business Strategies," April 28, 2009).

By the end of fiscal year (FY) 2010, Teijin will discontinue all polyester filament production at the Matsuyama plant in Japan and move that operation to Thailand, which will become the core polyester filament production base. Japan-based raw-material polymerization for polyester fibers also will be consolidated in Thailand.

This year, Teijin will close the polyester recycling operations at its plant in Tokuyama, Japan, and focus on fiber-to-fiber recycling at Matsuyama. The company also will move domestic polyester staple fiber production from Matsuyama to Tokuyama by the end of FY 2010. The Matsuyama plant will become the company's main research and development base, and the Tokuyama and Iwakuni, Japan, plants will focus on high-value-added polyester fiber production. By FY 2011, polyester fiber production for unprofitable industrial applications will be reduced at Iwakuni.

Spartanburg-based Teijin Monofilament US Inc., which manufactures and sells monofilaments, will be liquidated. Japan-based Teijin Nestex Ltd., which functions as the core textile yarn-dyeing plant for Teijin Group's textiles business, also will be liquidated.

Teijin will concentrate on its environmentally friendly and high-performance businesses. The company also has taken initiatives to help restructure the value chain, including the planned establishment in December 2009 of a joint venture (JV) with Japan-based Suminoe Textile Co. Ltd. to produce automotive seat fabrics, and acquiring equity in a specialty private-label apparel retailer that Japan-based Flandre Co. Ltd. has established.

In other company news, DuPont Teijin Films - a 50/50 JV between Wilmington, Del.-based DuPont and Teijin - will consolidate all US polyethylene terephthalate film production at its Hopewell, Va., site as part of the venture's continuing reorganization of its US and European operations. The plant in Florence, S.C., will close, affecting 210 manufacturing employees, of which 40 are working under contract.

August 18, 2009

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