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Teijin In Negotiations With Acordis To Acquire Twaron

Japan-based Teijin Ltd. is negotiating with Netherlands-based Acordis to acquire Twaron Products BV, Acordis Twaron® paralinked aramid fiber business. Both firms expect to conclude an agreement in the near future. The acquisition is subject to regulatory approval. Teijin is seeking to acquire all shares in Twaron Products and Twaron Products Twaron sales company in Germany, as well as Twaron-related activities in the United States and Brazil, and sales and marketing activities worldwide. Upon approval of the acquisition, Twaron Products will become a Teijin subsidiary named Teijin Twaron BV and will continue its business as part of Teijins global fibers organization.Shosaku Yasui, president and CEO, Teijin, said, This transaction is a key step in our strategy to establish a truly global presence with a broader array of products in a core Teijin material aramid fibers and is one that promises strong growth potential.

December 2000