Japan-based conglomerate Teijin Ltd. has agreed to sell Teijin Monofilament Germany GmbH to
Germany-based Serafin Privat Holding GmbH for an undisclosed price. The transaction, implemented as
part of a restructuring of Teijin’s Polyester Fibers business, follows the liquidation of
Spartanburg-based Teijin Monofilament U.S. and the sale of 10 monofilament lines from that business
to Wetekam Monofilaments US Inc. — a new business established in Spartanburg by Germany-based
monofilament and grass yarn manufacturer Dr. Karl Wetekam & Co. KG
(See ”
Teijin
Restructures Polyester Fibers Business, Consolidates US Film Production,” August 18, 2009; and
”
Wetekam
Monofilaments US Inc Established In Spartanburg,” March 2, 2010).
Teijin Monofilament Germany — which in 2009 employed 236 people and realized sales totaling
30.5 million euros — was established in 2001 when Teijin acquired the German and U.S. monofilament
operations of Johns Manville Corp. Johns Manville had acquired both operations in 1999 from former
chemicals manufacturer Hoechst AG, which had established monofilament operations in Germany in 1956
and in the United States in 1969. Teijin and Hoechst established a joint venture monofilament
business in Japan in 1991, and Teijin acquired Hoechst’s interest in that business in 1998. The
Japan-based monofilament business continues to operate as part of Teijin Ltd.
June 29, 2010
