MOSCOW (MRC) -- Freudenberg SE and Toray Industries, Inc. have decided to buy up all public shares in Japan Vilene, establishing a jointly-owned company that will own all shares in the big Japanese nonwovens producer, said Nonwovens.
Freudenberg will own 75% of the venture and Toray will own 25%.
At present, the German nonwovens giant owns 33.4% of Japan Vilene and Toray owns 17.49%.
As MRC informed earlier, Toray Industries, Inc. has announced that it has formulated a plan to expand the polyester staple fiber business at Toray Chemical Korea Inc., the acquisition of which Toray completed in February 2014, to pursuit synergy effects within Toray Group.
Toray Industries is a multinational corporation headquartered in Japan that specializes in industrial products centered around technologies in organic synthetic chemistry, polymer chemistry, and biochemistry. Its founding business areas were fibers and textiles, as well as plastics and chemicals. Toray Group Malaysia companies are involved in four main businesses -- polyester fibres, textiles, plastic resins and polyester films.
MRC