September 9, 2013
Teijin Frontier to Establish New Company in Myanmar
Teijin Frontier Co., Ltd., the Teijin Group's fiber-products converting company, announced today that it will establish Teijin Frontier Myanmar Co., Ltd. in Yangon, Myanmar, on October 1 to strengthen Teijin Frontier's overseas operations and also to further expand the company's global network.
The new company, in which Teijin Frontier will hold a 99% share and Teijin Frontier Thailand the remaining 1%, will handle production management for Teijin Frontier's overseas manufacturing network, explore opportunities for new production facilities and conduct domestic market research.
"Myanmar is seen as a promising China-plus-one market, and as we focus on strategic global expansion this year, the establishment of this new company will help reinforce sewing productivity and improve our production management capabilities," said Tetsushi Takenaka, president of Teijin Frontier. "Teijin Frontier will continue to strengthen its global value chain from raw materials to finished products."
About the Teijin Group
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 JPY745.7 billion (USD 7.4 billion) and total assets of JPY 762.4 billion (USD7.6 billion) in the fiscal year ending March 31, 2013. Please visit www.teijin.com.
