Teijin completes procuring land business expansion in US

Teijin completes procuring land for business expansion in US

5:32 AM, 5th November 2016
Teijin completes procuring land for business expansion in US

TOKYO, JAPAN: Teijin Limited has completed the acquisition of approx 1.8 million m2 (about 440 acre) commercial land in Greenwood, South Carolina, in US.

Teijin decided to start a highly-efficient carbon fibre production site for automotive and aircraft applications on the acquired land to meet diversified demands and create some 220 jobs with $600 million worth of investment around 2030.

Through this investment, it will accelerate its global expansion in integrated high-performance material businesses by utilising its trilateral hubs in Japan, US and Europe. Teijin will continue to evolve, aiming to become a company that supports future society.

The company has also agreed to a full acquisition of Continental Structural Plastics Holdings Corporation (CSP), a leading automotive composite supplier in North America, which is scheduled to be completed in December 2016.

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