Tokyo-based Teijin Group has announced that due to the polyester film market competition intensified, its Teijin DuPont Film (Teijin DuPont Film Japan Ltd., referred to as “TDIJ”) decided to close a factory in Gifu, Japan.
Submitted to the Tokyo Stock Exchange in a document, the company said Gifu plant will stop commercial production in September 2016, its business will be transferred to the company in Japan Utsunomiya factory or factories overseas. Teijin was the first for the first time in November last year announced a series of adjustment programs, the plant’s shutdown is one of them.
So far, TDIJ has implemented many programs to reduce costs, including making decision to improve the competitiveness of their polyester film business. The company said in a statement.
Despite these efforts, the increasingly competitive global market situation eventually persuaded the company to future integrate manufacturing plant, improve production efficiency and ensure continued profitability.
Gifu factory film annual capacity of 30,000 tons, will continue to serve as a research and development center afloat.
In November last year announced plans to adjust, Teijin has said it will reduce commodity resins business, such as the closure of its PC manufacturing plant in Singapore this year, because of the high cost of raw materials to the plant.
Meanwhile, Teijin also said it would invest in other raw materials, including carbon fiber-reinforced thermoplastic resin mixture and PC, PPS plastic, and the establishment of a carbon fiber composite material production plant in the United States.
Teijin has 16,000 employees worldwide, the fiscal year ended March 31, 2014 of its sales of $7.7billion.