Japan-based Teijin Ltd. has entered into a basic agreement to acquire the monofilament business of
Johns Manville Corp., Denver. Teijin will obtain all property relating to Johns Manvilles
monofilament business including its monofilament operations in Germany and Spartanburg, S.C. The
agreement remains subject to regulatory approvals in Germany and the United States. Financial
details were not disclosed.The facilities in Germany and Spartanburg, S.C., will be renamed Teijin
Monofilament Germany GmbH and Teijin Monofilament U.S. Inc., respectively.To date, Teijin
Monofilament has been marketing mainly to customers in Japan. The polyester monofilament business
of Teijin and Johns Manville together account for 25 percent of the present worldwide market for
these materials, said Shosaku Yasui, president, Teijin. This agreement with Johns Manville is part
of our strategy to better position Teijin to meet increasingly diverse customer needs throughout
the world.
January 2001
