Aditya Birla Group’s Grasim Industries Ltd. and Omikenshi Co. Ltd. of Japan have announced that they have entered into an agreement to jointly develop new international markets for several functional rayon products. Under the terms of the agreement, Omikenshi and Grasim will develop the technology together and manage the increased production anticipated as the companies enter new markets.
“Synergies between Grasim and Omikenshi will be leveraged for delivering enhanced value to our customers. We look forward to building a strong long-term relationship with Omikenshi,” said Mr. K.K. Maheshwari, Managing Director of Grasim Industries and Head of the Pulp & Fibre business of the Aditya Birla Group.
Omikenshi Co. Ltd. with its principal offices in Osaka and Tokyo, was founded in 1917 and operates three major divisions – rayon viscose fibre, including textiles, real estate development and retail consumer goods.
“We are pleased to be collaborating with Grasim,” said Mr. Makoto Otomura, President of Omikenshi. “We believe that the combination of Grasim’s considerable production capacity and Omikenshi’s functional rayon technology will open markets for both companies.”
In addition to specific products at the core of the agreement, the two companies will also explore future collaboration through a joint research and development programme.