Toyobo has sold its products in the European market through Toyobo Europe GmbH (TEG), which was established 2011. In recent years, sales of TEG’s specialty chemical products have surged in Europe and Africa.
With its mainstay products in EMEA shifting to specialty chemical products, Toyobo decided to set up a new company that contains the word ‘chemicals’ in its name, said the company in a press release.
TEG had also marketed Breathair, whose fibres are arranged in a complex three-dimensional structure to be used for cushion materials, but this business operation has been transferred to PHP Fibers GmbH, a joint venture in Germany between Toyobo and Indorama Ventures Public Co of Thailand, as was recently announced by Toyobo.
With the establishment of TEU, Toyobo plans to liquidate TEG in the near future.
Toyobo has also agreed to set up two joint venture firms with PT. Trias Sentosa, Tbk, an Indonesian flexible packaging film maker. (KD)
ALCHEMPro News Desk – India
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