Japan Gore-Tex Inc. Becomes Gore Subsidiary
Newark, DE, USA (September 24, 2009)— W. L. Gore & Associates (Gore) and Japan Gore-Tex Inc. (JGI) are pleased to announce that JGI has become a wholly owned subsidiary of Gore.
JGI was originally founded in 1974 as a joint venture between Gore and electronic products manufacturer Junkosha Inc. The purpose of the joint venture was to utilize and build upon Gore's unique expanded polytetrafluoroethylene (ePTFE) technology in Japan. Over the last 35 years, JGI has grown as a contributor to the Gore group, building successful businesses in the Japanese market and adding significant innovations to Gore's portfolio of intellectual property.
This week, JGI redeemed its shares held by Junkosha, making JGI a wholly owned subsidiary of Gore, and setting the stage for the natural evolution of the companies' successful relationship.
"In a new age where even closer collaboration and cooperation in business and management are required on a global basis, we see great opportunities to expand our base of technological innovation, exchange information and align local and global strategies by becoming a full member of Gore's global enterprise," says Toru Sasamoto, President of JGI. "We are confident that this will benefit us all by offering the best products and best services globally, not just in Japan."
"The long-standing joint venture relationship between Gore and JGI has benefited both companies," says Brad Jones, a Gore corporate leader. "Aligning the two companies more closely will allow us both to take this very successful 35-year relationship to the next level.
"As one company, we will enjoy a brighter future than we could have achieved before," Brad Jones continues. "We believe that, over the long run, this new relationship will allow us both to enjoy even better, more seamless collaboration, more effective utilization of both companies' capabilities, and more effective service of our customers worldwide."
Perhaps best known for its consumer products like GORE-TEX® fabric and ELIXIR® guitar strings, Gore is a leading manufacturer of thousands of advanced technology products for the electronics, industrial, fabrics and medical markets. The company is headquartered in Newark, Delaware, U.S.A., posts annual sales of more than $2.5 billion, and employs more than 9,000 associates in 30 countries.
JGI, headquartered in Tokyo, has been known as the primary manufacturer and marketer of ePTFE products in Japan. The company posts annual sales of $300 million and employs 500 associates in Tokyo and Okayama.
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