CHINA: Teijin to set up $25m textile R&D centre
Textile and fibre company Teijin Limited is to establish a new business, Teijin Product Development China, to conduct fibre and textile research and development in the country.
The company will be set up this August in Nantong, Jiangsu province, and will start operations in April next year, Teijin said.
Established on the premises of Nantong Teijin, a Teijin textile business, the new venture will initially develop textiles for apparel, as well as fibres in collaboration with local manufacturers.
Capital expenditure on the new company will total about JPY2bn (US$25m), Teijin said.
“Establishing Teijin Product Development China will enable us to promptly respond to various market needs in China,” said Toshihide Fukushima, Teijin Group executive officer.
“We are confident our solutions, based on our extensive fibre-related technologies and expertise, will promote the development of advanced products contributing to, adding value to and differentiating the local chemical fibre industry, a strategic industry in China’s 12th five-year plan.”
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