Teijin sells Indonesian polyester fiber subsidiary

Teijin Corp. of Japan has said that it has completed the previously announced sale of a 98.7% stake in Teijin Fibre Indonesia (Tifico).

Teijin Indonesia Fibers is a polyester fiber production company with 4 textiles buyers. The transfer of equity was completed on April 15. This business sale is part of Teijin's polyester fiber business restructuring plan.

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