The latest update is out from Teijin ( (JP:3401) ).
Teijin Limited has decided to transfer its shares in Teijin Automotive Technologies NA Holdings Corp., its North American subsidiary, to Stork BidCo Inc., a company under AURELIUS Private Equity. This decision comes as part of Teijin’s Medium-Term Management Plan 2024-2025, following challenges in achieving expected profitability due to external factors like the COVID-19 pandemic and labor shortages. The move signifies Teijin’s withdrawal from the North American automotive composites market, while it continues to focus on its profitable European operations, aiming to expand in the environmentally conscious mobility sector.
More about Teijin
Teijin Limited is a company operating in the automotive industry, focusing on the design, molding, and processing of composite materials and components. It has a significant presence in the North American market through its subsidiary, Teijin Automotive Technologies NA Holdings Corp., and maintains strong connections with European OEMs.
YTD Price Performance: 7.88%
Technical Sentiment Signal: Sell
Current Market Cap: $1.74B
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