Agreement on sale of Twaron Products to Teijin
Arnhem, the Netherlands, December 22, 2000 Acordis has signed a contract to sell its aramid fibres business Twaron Products to Teijin (Osaka, Japan). Financial terms were not disclosed. Completion of the transaction is expected to take place on 29 December.
Positive advice on the sale was received from the Acordis Works Council in the Netherlands and approval has been obtained from the appropriate regulatory authorities.
Twaron Products consists of production facilities in Delfzijl, Emmen, and Arnhem (the Netherlands), sales offices in Arnhem, Wuppertal (Germany), Conyers (USA), São Paulo (Brazil), and Singapore, and research facilities in Arnhem. The business has sales totalling approximately Euro 200 million and has 950 employees. Aramid fibres are used in friction products and gaskets, optical cables, mechanical rubber goods, ballistics, protective clothin, tyres and composites.
Acordis is a multinational group of businesses, supplying customers throughout the world with man-made fibres and speciality materials for industrial, textile, medical, and hygiene applications.