AlliedSignal Forms Asian Fibers Company
AlliedSignal Inc. has announced it will join Kohap Ltd., S.K. Chemical Ltd. and Sam Yang Corp. to
form a new Asian Performance Fibers company based in Seoul, South Korea.
Under the terms of the agreement, the new company will market the high-tenacity performance fibers produced by all four companies in Southeast Asia.The four companies will continue to own and operate their manufacturing facilities.This unique new company combines the exceptional operational skills of three major Korean companies and AlliedSignal's experience in developing and marketing a broad range of value-added, high-technology performance fiber products and processes, said Fred Festa, vice president of AlliedSignals Performance Fibers business.
According to the terms of the agreement, AlliedSignal will have overall majority interest in the new company and Sam Yang will have the majority among the three Korean partners.