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Asahi Kasei Makes Spandex Acquisition

November 22, 2005

Asahi Kasei says it has signed a memorandum of understanding to purchase Lanexess’ Dorlastan spandex business including production facilities in Dormagen, Germany and Bushy Park, SC. Lanxess’s annual spandex capacity is 9000 metric tons at Bushy Park and 8000 metric tons at Dormagen while Asahi Kasei’s existing capacity is 19,500 metric tons at four sites in Asia.—wholly owned units in Moriyama, Japan and Huangzhou, China and joint venture production units in Taipei, Taiwan and Chonburi, Thailand. The deal will make Asahi Kasei the world’s third largest producer of spandex, trailing Invista and Hyosung.
    According to reports, the company expects sales to reach ¥40 billion ($337 million) by 2008 for the combined operations. Current sales were not disclosed. Asahi Kasei's fiber operations--which also include nylon, polyester, rayon, as well as nonwovens--had total sales ¥104.3 billion during the year ended March 31, 2005.
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