Transfer of Triacetate Fiber Business

The Mitsubishi Chemical Group ("the MCG Group") has reached a deal with GSI Creos Corporation to transfer its triacetate fiber business to this same corporation, with which it signed a definitive agreement effective today.
 

1. Background and objectives

The MCG Group targets focus markets based on key global trends and undertakes portfolio management focused on market growth potential, competitiveness, and sustainability.
Triacetate fiber is a Man Made Cellulose Fiber made from natural pulp and is produced exclusively by the MCG Group in the world. The material is highly regarded in apparel markets in Japan and abroad for its material characteristics and a certain level of demand growth is expected in future, and the decision to transfer this business was based on the determination that growing the business sustainably under the best owner would be optimal.
 

2. Overview of the business to be transferred

• Production and sale of triacetate fiber (brand name: Soalon™) yarn and greige fabrics

 Production site: Mitsubishi Chemical Corporation Toyama Plant (Kaigan-dori 3, Toyama City, Toyama Prefecture)

• Ryoko Sizing Co., Ltd. (a wholly-owned Group subsidiary engaged in the processing of triacetate fiber yarn)

 Production site: Omizo 1-23-5, Awara City, Fukui Prefecture

• Applications of triacetate fiber: mid- to high-end women's apparel, formal wear, office uniforms, etc.

 

3. Overview of transferee

• Company name: GSI Creos Corporation
• Location: 16F, Shibakoen First Building, Shiba 3-8-2, Minato-ku, Tokyo
• Capital: 7,186 million yen
• Consolidated net sales: 146,194 million yen (fiscal year ended March 2024)
• Number of employees (consolidated): 658
• Business activities: Textile business (including various yarns and fabrics as well as inner and outerwear products) and industrial products business (including machinery, chemicals, hobby products, semiconductor-related products, carbon nanotubes, etc.)

 

4. Date of transfer

March 3, 2025 (scheduled)