Teijin completes land acquisition for business expansion in US
Teijin Limited announced today that it has completed the purchase of approximately 1.8 million m2 (about 440 acre) commercial land in Greenwood, South Carolina, in U.S.
Teijin plans to establish a highly-efficient carbon fiber production site for automotive and aircraft applications on the acquired land to meet diversified demands and create some 220 jobs with USD 600 million worth of investment around 2030.
The Teijin Group is leveraging its core strengths in integrated high-performance materials and healthcare. Through this investment, Teijin will accelerate its global expansion in integrated high-performance material businesses by utilizing its trilateral hubs in Japan, U.S. and Europe. Teijin will continue to evolve, aiming to become a company that supports future society.
The Teijin Group is implementing a solutions-oriented business model by combining and integrating materials, healthcare and IT technologies as part of its long-term management vision. To realize this strategy, Teijin focuses on developing integrated high-performance material businesses for automotive and aircraft applications and has been examining an appropriate footprint in North America. The company has also agreed to a full acquisition of Continental Structural Plastics Holdings Corporation Opening a new window (CSP), a leading automotive composite supplier in North America, which is scheduled to be completed in December 2016.