Teijin to Launch New Fiber Product-Converting Company

Teijin Limited announced today that it will integrate N.I. Teijin Shoji Co., Ltd., the Teijin group's products converting company, and the apparel business of Teijin Fibers Limited, the group's polyester fiber company, and then relaunch the combined businesses as Teijin Frontier Co., Ltd. on October 1.

The new company will handle development, sales and trading of fiber raw materials, apparel products and industrial materials, combining Teijin Fibers' extensive technologies and expertise in fiber production and processing, and value-added fiber products development, and N.I. Teijin Shoji's strong procurement network and service capabilities. Teijin Frontier will aim to grow its business in the global market as a unique hybrid converting company.

Operating as a wholly owned subsidiary of Teijin Limited, Teijin Frontier will have around 800 employees and will be led by President Tetsushi Takenaka, currently a Teijin Group corporate officer and the president of N.I. Teijin Shoji. The company, located at 1-6-7 Minami-Hommachi, Chuo-ku, Osaka, Japan, will have 20 consolidated companies in its group, including nine in Japan and 11 overseas.

As part of a medium- to long-term management plan announced in February, Teijin is creating new business models to respond more effectively to customer needs by leveraging the group's competitive technologies while reinforcing sales.

Teijin (TSE 3401) is a technology-driven global group offering advanced solutions in the areas of sustainable transportation, information and electronics, safety and protection, environment and energy, and healthcare. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has some 150 companies and around 17,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY 854.4 billion (USD 10.7 billion) and total assets of JPY 762.1 billion (USD 9.5billion) in the fiscal year ending March 31, 2012.

Source: Teijin