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

Textiles | On 20th Jul 2017

Provide safety net for cotton growers: Congress to Trump

A bipartisan Congressional coalition has called attention of...

Courtesy: ITMF

Textiles | On 20th Jul 2017

ITMF'17 themed on tech, trade, climate in disruptive times

The International Textile Manufacturers Federation (ITMF), an...

Textiles | On 20th Jul 2017

RIL’s Q1 FY18 petrochemicals revenue up 22.9% y-o-y

Reliance Industries Limited (RIL) has reported its financial...

Interviews View All

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

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

July 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

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

Yes No

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

Yes No

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


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



X