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

Pic: Andreysha | Dreamstime.com

Textiles | On 1st Dec 2021

Factory activity in China rebounds following energy crunch ease

China's factory activity picked up in November following the easing...

Pic: Hikrcn | Dreamstime.com

Textiles | On 1st Dec 2021

Turkey second-fastest growing OECD economy in Q3 2021

Turkey has become the second-fastest growing economy in the third...

Prime Minister Sheikh Hasina. Bayazid Akter | Dreamstime.com

Textiles | On 1st Dec 2021

PM Hasina urges global investors to invest in Bangladesh

Prime Minister Sheikh Hasina recently urged investors from across the ...

Interviews View All

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Textile Industry, Head honchos

Textile Industry
Head honchos

Liquidity is a primary issue in Indian context

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Shivaani Jain,

Shivaani Jain

Established in 2015, Once Upon A Trunk is a one-stop-shop with almost...

Kishina Daruka and Mishika Daruka,

Kishina Daruka and Mishika Daruka

Headquartered in Kolkata, India, sustainable clothing brand Ora was...

Silke Brand-Kirsch, Glatfelter

Silke Brand-Kirsch
Glatfelter

Glatfelter is a leading global supplier of engineered materials. <b>Silke...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Sarah Denise Cordery, Sarah Denise Studio

Sarah Denise Cordery
Sarah Denise Studio

Manchester, England-based Sarah Denise Studio provides relevant fashion...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

Bav Tailor, Label Bav Tailor

Bav Tailor
Label Bav Tailor

Born in London and Indian by origin, <b>Bav Tailor </b>is the Founder of...

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

Leave your Comments


December 2021

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


Advanced Search