Teijin Ltd. (Tokyo, Japan; www.teijin.com) announced that it has agreed to acquire the interests owned by E. I. du Pont de Nemours and Company (DuPont; Wilmington, Del.; www.dupont.com) in the companies’ film-business joint ventures (JVs) in Japan and Indonesia.
The ventures — Teijin DuPont Films Japan Limited and P.T.Indonesia Teijin Dupont Films — were formed in 2000 when Teijin and DuPont integrated their polyester film businesses.
Teijin and DuPont have agreed that Teijin will acquire DuPont Kabushiki Kaisha’s interests in Teijin DuPont Films Japan, effective immediately, and DuPont’s interests in Indonesia Teijin DuPont Films, effective after obtaining appropriate regulatory approvals.
For the two companies becoming wholly owned subsidiaries going forward, Teijin intends to increase profitability and competitiveness through utilization of high-performance materials other than polyester, combining and integrating materials other businesses of Teijin Group, and promoting new business development through external alliances under an accelerated decision-making process of Teijin Group management. The new company names for the Japanese and Indonesian entities will be Teijin Film Solutions Limited and P.T. Indonesia Teijin Film Solutions, respectively.