Home / Knowledge / News / Textiles / Dissolution and liquidation of Teijin Monofilament US Inc
Dissolution and liquidation of Teijin Monofilament US Inc
03
Aug '09
Teijin Limited has announced plans to dissolve Teijin Group monofilament production and sales subsidiary Teijin Monofilament U.S. Inc., based in South Carolina, the United States, and to liquidate the company at the end of December 2009. Monofilaments are single filaments of synthetic fiber of a comparatively high denier, used in the manufacture of paper and for general industrial materials.

In December 2000 Teijin Limited purchased the U.S. and German monofilament businesses of Delaware-based Johns Manville Corporation of the United States. In 2001, the businesses were merged with existing subsidiary Teijin Monofilament Limited, which is headquartered in Tokyo, Japan, creating a three-pronged network of production bases in Japan, the United States and Europe and facilitating the global expansion of this business.

In subsequent years, owing to changing conditions in the market for paper machine clothing (PMC), the principal application for monofilaments-including the shift of customers' production bases to Central and South America, as well as the attenuation of the North American market-securing profitability for the company became increasingly difficult.

In response, Teijin Monofilament U.S. sought to cultivate applications in areas other than PMC, such as industrial materials. However, as these were in sectors dominated by products with low sales prices, this effort did not result in increased profitability. Since fiscal 2005, profitability has continued to deteriorate, owing to soaring prices for raw materials. The company's performance has further been hampered by the recent global economic downturn. Having concluded that a future return to stable profitability is unlikely, Teijin took the decision to dissolve and liquidate the company.

Schedule
Cessation of sales: End of October 2009
Liquidation: End of December 2009
Supply of products to customers: The company will continue producing sufficient quantities to fill orders until the end of October 2009.
Subsequent to liquidation: Depending on orders, product supplies will continue, led by Teijin Monofilament Germany GmbH.

Teijin Limited


Must ReadView All

Courtesy: ABARES

Textiles | On 13th Dec 2017

Australian cotton production to grow 4% in 2017-18: ABARES

Cotton production in Australia is forecast to rise by 4 per cent to...

Global economy now growing by about 3%: UN

Textiles | On 13th Dec 2017

Global economy now growing by about 3%: UN

There is an upturn in the global economy, and it is now growing by...

Winners of Outstanding Award for Exceptional Performance with Anusha Alles (extreme right) and Sakura Manthreerathne, P.A.C.E. specialist at Brandix; Courtesy: Brandix

Apparel/Garments | On 13th Dec 2017

Brandix’s female workers benefit from GAP’s P.A.C.E

A group of 181 Brandix female associates have recently completed...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search