Home / Knowledge / News / Textiles / Dissolution & liquidation of Teijin Nestex yarns dyeing plant
Dissolution & liquidation of Teijin Nestex yarns dyeing plant
06
Aug '09
Teijin Fibers Limited has announced plans to withdraw from the operations of Teijin Group core textile yarns dyeing plant Teijin Nestex Limited, based in Ishikawa, Japan, and to dissolve and liquidate the company at the end of March 2010.

Teijin Nestex's predecessor Daishojiseren Ltd. joined the Teijin Group in 1951 and the company has functioned as the Group's core textile yarns dyeing plant for the past approximately 50 years. During this time, the increasing shift of textile manufacturing offshore by customers has pushed down order volumes for dyeing and prices for processing, which has significantly hampered the company's profitability.

Having concluded that despite numerous efforts to improve Teijin Nestex's operating results—including the integration of facilities and the implementation of stringent rationalization measures—structural issues will continue to impede the profitability of Teijin Nestex. Teijin Fibers has therefore taken the decision to dissolve and liquidate the company.

Schedule
Full withdrawal from businesses: End of March 2010

Subsequent to dissolution and liquidation: The company's textiles and apparel dyeing business will be shifted to dyeing facilities currently under contract to Teijin Fibers in Japan and to Nantong Teijin Co., Ltd. (Nantong, Jiangsu, PRC) overseas.

The company's automotive seat fabric dyeing business will be retained by transferring it to another Teijin Group company or by establishing a related alliance with a company outside the Teijin Group.

The possibility of shifting businesses other than dyeing (sales of bristles for calligraphy and paint brushes; window and door screens; and sewing) to other Teijin Group companies in Japan is currently under consideration.

Plant site: The site of the company's former plant in Kaga, Ishikawa, and related assets—with the exception of those than can be put to use effectively within the Teijin Group—will be disposed of.

Profile of Teijin Nestex Limited
Date of establishment: November 5, 2001
Location: Ko 141, Ohama-machi, Nomi, Ishikawa, Japan
President: Takashi Honchu
Principal operations: Dyeing of polyester textiles and automotive seat fabrics
Paid-in capital: ¥490 million (as of June 30, 2009) (wholly owned by Teijin Fibers Limited)
Annual net sales: ¥2.65 billion (year ended March 31, 2009)
Number of employees: 276 (as of March 31, 2009)
Historical highlights: 1937 Founded as Daishoji Orimono Kumiai
1947 Reorganized and incorporated as Daishojiseren Ltd.
1951 Commences operations as a member of the Teijin Group
1972 Reestablished as Kita Nihon Senkou Ltd. (assumes operations of predecessor)
1986 Reestablished as Kitasen Limited (assumes operations of predecessor)
2001 Reestablished as Teijin Nestex Limited (assumes operations of predecessor)

Teijin Limited


Must ReadView All

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Apparel/Garments | On 21st Sep 2017

BFC announces partnership with Chinese firm JD.com

The British Fashion Council (BFC) has forged a new partnership...

Textiles | On 21st Sep 2017

Indonesia’s textile exports may reach $15 billion by 2019

Indonesia’s textile-related exports are projected to reach $15...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Johan Berlin
InvestKonsult Sweden AB

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

Nisha Chanda
Whistling Woods International School of Fashion

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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