Joint venture forms in auto fabric production

In December 2009, Japanese manufacturers Suminoe Textile Company Ltd. and Teijin Fibers Ltd. will locate a joint venture in Osaka, Japan, to combine their strengths in automotive fabric production. The new venture, Suminoe Teijin Techno Company Ltd., will have the advantages of Suminoe’s large market share and developed relationships with auto manufacturers, as well as Teijin’s environmentally sustainable and technologically sophisticated processing capabilities.