Teijin establishes Russian subsidiary
Teijin Ltd. (Tokyo, Japan) announced on Sept. 30 that it will establish Teijin Rus LLC in Moscow, Russia, on Oct. 1 to strengthen the Teijin Group’s business operations in Russia and the Commonwealth of Independent States (CIS), as part of the group’s strategy to expand businesses in emerging economies.
Having absorbed the existing local office that was established in 2006, the new company will handle group-wide sales and conduct research to identify demand and business opportunities in Russia and CIS, which are among the priority markets in the Teijin Group’s medium- to long-term growth plan.
“The establishment of the new company enables us to promptly serve customer needs in the Russia and CIS markets,” says Kentaro Arao, Teijin Group senior executive officer, chief marketing officer and director of BRICs business. “We hope to strengthen our presence by supplying the Russian market with our diversified solutions, especially for the aerospace industry, where the government is aiming to realize greater competitiveness, and the automotive industry, which is expected to become the largest market in Europe in the late 2010s.”