Acordis´ Twaron sale to Teijin to close by year-end

ARNHEM, Netherlands (Dec. 27)—Acordis´ sale of its Twaron Products aramid fibers business to Japan´s Teijin Ltd. is expected to close Dec. 29, following approval of the deal by regulatory authorities and labor representatives, Acordis said. Financial terms of the deal, in the works since October, were not disclosed. Twaron Products consists of three production plants and one research facility in the Netherlands, and sales offices in the Netherlands, Germany, Brazil, Singapore and the U.S. The business makes about 11,000 metric tons of Twaron per year, generating sales of approximately $200 million. Twaron Products will become a Teijin subsidiary named Teijin Twaron B.V. and will continue its business as part of Teijin´s global fibers organization, Teijin said.