DuPont and Teijin have decided to dissolve their 50:50 nylon joint venture, Teijin DuPont Nylon K.K. located in Mihara, Japan. To minimise the impact to customers, the shutdown will be a gradual process, culminating in December 2003.
Ownership of the joint venture will be transferred to Teijin on November 1, 2002. At this time, they will continue to supply customers with Teijin Dupont products until the plant closes in 2003.
During this time, DuPont and Teijin will offer customers full support as they convert them to using products sourced from other DuPont sites. After the dissolution of the company, DuPont will market products directly to Japanese clients via its Textiles and Interiors organisation in Japan.
Reasons given for the impending closure include poor market conditions over the last five years as well as a recession in the Japanese building industry, affecting the demand for nylon carpet as well as a shift away from the demand for nylon clothing products.
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