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January 22, 2002

JAPAN: Teijin Spins Off Polyester Clothing Operations

Leading Japanese textile manufacturer Teijin Ltd has announced it is to spin off its polyester clothing operations into a new company as part of rationalisation efforts. Called Teijin Fibres Ltd, the new firm will be launched in April with the aim of generating an operating profit of 4.5 billion yen and a return on assets of at least seven per cent in fiscal 2003.

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