Fiber Producer Teijin Completes Land Acquisition For Business Expansion in United States

TOKYO — November 4, 2016 — Teijin Ltd. announced that it has completed the purchase of approximately 1.8 million square meters (about 440 acres) of commercial land in Greenwood, S.C.

Teijin plans to establish a highly-efficient carbon fiber production site for automotive and aircraft applications on the acquired land to meet diversified demands and create some 220 jobs with $600 million worth of investment around 2030.

The Teijin Group is leveraging its core strengths in integrated high-performance materials and healthcare. Through this investment, Teijin will accelerate its global expansion in integrated high-performance material businesses by utilizing its trilateral hubs in Japan, the United States and Europe. Teijin will continue to evolve, aiming to become a company that supports future society.

The Teijin Group is implementing a solutions-oriented business model by combining and integrating materials, healthcare and IT technologies as part of its long-term management vision. To realize this strategy, Teijin focuses on developing integrated high-performance material businesses for automotive and aircraft applications and has been examining an appropriate footprint in North America. The company has also agreed to a full acquisition of Continental Structural Plastics Holdings Corporation (CSP), a leading automotive composite supplier in North America, which is scheduled to be completed in December 2016.

Posted November 4, 2016

Source: Teijin Group