Teijin dissolves S.C. monofilament subsidiary

When Teijin Limited, Tokyo, Japan, purchased the monofilament business of Johns Manville in 2000, it expected the market for paper machine clothing (covers for paper-making rollers that improve machine performance) would be strong. Losses at Teijin Monofilament U.S. Inc., Spartanburg, S.C., resulted from changes in the PMC market, the lackluster economy and customers relocating production to Central and South America. Teijin Limited will dissolve and liquidate the subsidiary at the end of the year, filling orders only until the end of October 2009. The Spartanburg facility produced approximately 4,000 tons of monofilament annually and had annual net sales of $28.5 million in 2008.