Teijin expands film business with wholly-owned subsidiaries in Japan and Indonesia

Teijin Limited (Teijin) has agreed to acquire interests owned by E. I. du Pont de Nemours and Company (DuPont) in the film business joint ventures in Japan and Indonesia. The transaction will enable Teijin to fully own Kabushiki Kaisha's interests in Teijin DuPont Films Japan effective immediately, andDuPont's interests in Indonesia Teijin DuPont Films, right after obtaining appropriate regulatory approvals.

 

Teijin and DuPont have integrated polyester film business in 2000 and have been operating the business on a global scale by establishing joint ventures in seven countries worldwide.  However, business environment has become increasingly difficult due to the sluggish demand driven by the slowdown of the Chinese economy as well as by the rise of new Chinese competitors and a need for transformation of business structure has become imminent.Structural reform has already been promoted  that domestic production site  will be consolidated into Utsunomiya factory by the end of September 2016 in order to focus on the high value-added applications, but to achieve further growth by improving flexibility of management and speed of decision-making , it has hereby agreed to acquire the interests in the Japan joint venture, as well as the Indonesia joint venture.

 

For the two companies becoming wholly owned subsidiaries going forward, Teijin intends to increase profitability and competitiveness through utilization of high-performance materials other than polyester, combining and integrating materials other businesses of Teijin Group, and promoting new business development through external alliances under an accelerated decision-making process of Teijin Group management.  The new company names for each of the Japan and Indonesian entities will be Teijin Film Solutions Limited and P.T. Indonesia Teijin Film Solutions.