Toyo Spun For 600 Million Acquisition Of Polyester Polyester Film Business
In May 22nd, Toyo Textile Co., Ltd. announced that it would acquire the polyester film business of the emperor.
The deal includes the "TFS" and its wholly owned subsidiary, "ITFS", which is a subsidiary of Indonesia in Japan. Its paction volume is about 10 billion yen (about 627 million yuan), and the acquisition is expected to be completed in October 1st.
In May 22nd, Toyo announced that it would acquire the polyester film business of the emperor, and in the opposite direction, the company would launch the business.
The deal includes the "TFS" and its wholly owned subsidiary, "ITFS", which is a subsidiary of Indonesia in Japan. Its paction volume is about 10 billion yen (about 627 million yuan), and the acquisition is expected to be completed in October 1st.
The emperor entered polyester film business in 1960s.
In order to enhance the competitiveness of the polyester film business, the emperor has taken a number of measures, including the consolidation of production base in 2016, and acquisition of a joint venture between Japan and Indonesia. But in view of the further development of TFS and ITFS and the appropriateness of the distribution of resources of the group, the company decided to sell the business.
In addition to the acquisition of industrial film production base, Dongyang also said it would develop new products and applications to expand the field of thin film business.
It is understood that TFS's business scope is mainly for the production and sale of industrial thin films. They have unique products, such as release films for ceramic capacitors and polynaphthalene two formic acid glycol films for automotive insulation.
In addition, Toyo will continue to invest to meet the growing demand for ceramic capacitor release films under the background of motorized vehicles and 5G.
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