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Teijin Continues Polyester Restructuring; Sells Stake in Indonesian Polyester Fiber Subsidiary

7:27 AM MST | December 18, 2009 | Deepti Ramesh

Teijin, as part of the previously announced restructuring of its polyester fiber business, says it will sell its 97.9% stake in Teijin Indonesia Fiber (Tifico; Jakarta, Indonesia), a polyester fiber manufacturing company, to four textile manufacturers. The four companies are Prospect Motor (Jakarta), Hermawan Sentral Investama (Bandung, Indonesia), Wiratama Karya Sejati (Bandung) and Pioneer Atrium Holding (British Virgin Islands). The execution of the share transfer is expected to be completed in April 2010. “Tifico’s polyester fibers operations have...

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