05 November 2004
05 November 2004
Operating income from the Synthetic Fibres business of Japan's Teijin Ltd. soared to 5.82 billion Yen (55 million USD) in the first six months of this financial year, almost double the figure for the first half a year ago.
Sales from the business increased by 11% to 133.2bn Yen. in the six months ended Sept. 30, 2004, while operating income climbed 99.4% from 2.92bn. to 5.82bn Yen. led by the industrial fibres segment.
Teijin comments that sales of textile fibres were hampered by dwindling consumption in its home market and soaring raw material and energy costs. Industrial fibre sales, on the other hand, were firm, led principally by Twaron para-aramid fibres and carbon fibres.
The company said that it had increased selling prices of textile fibres and implemented ""innovative"" cost cutting measures to ameliorate rising raw material prices and that these efforts had yielded steady results. Sales of higher-value added products such as Ecopet, Teijin's polyester fibre made from recycled polyethylene terepthalate (PET), increased.
Brisk demand for ballistic applications and expanding use in in friction materials kept Twaron para-aramid manufacturing at full capacity, said Teijin, whilst a sharp increase in European demand saw a strong recovery in carbon fibre sales. Profitability of the industrial polyester business was hit by rising raw materials costs despite strong demand from the automotive sector.
Teijin's strategy for its fibres businesses is to expand its industrial fibre operations whilst at the same looking to time cut costs and increase manufacturing efficiencies in its textile fibres sector.
The company says that it is considering ""drastic actions in certain persistently unprofitable businesses"" in the textile fibres sector.
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