Tokyo, Japan, October 27, 2020

Teijin Limited announced today that a long term master agreement has been signed by Teijin and Safran S.A., an international high-technology group and tier-1 supplier of systems and equipment in the Aerospace and Defense market.

Teijin has been supplying high-performance materials to Safran for the last 25 years. The contract establishes the frame for the supply of Teijin`s high-performance materials dedicated to the manufacturing of equipment parts for new generation aircraft.

Teijin and Safran intend to reinforce their collaboration to meet the challenges of the aviation market, creating advanced technologies that lower production costs and environmental impact. Teijin will supply Safran with a variety of high-performance materials to manufacture various Safran products used for aircraft applications in commercial, defense industry or for space applications. Some of the first materials supplied to Safran should be manufactured by US-based Renegade Materials Corporation, a prepreg supplier specialized in high temperature resistant resin and safe, non-toxic polyimide prepreg materials, which Teijin acquired in 2019.

Safran Vice President, Materials Purchasing, Thierry Viguier, stated, “The signature of this master agreement materializes the growing relation between Safran and Teijin. Safran expects to reach new steps in aeronautical equipment performance and competitiveness, thanks to the innovation capacity of Teijin in high-performance materials."

Shukei Inui, General Manager of Teijin`s Carbon Fiber Business Unit commented that "This agreement with Safran is a milestone in our long and trustful relationship and will strengthen Teijin`s position as a reliable material supplier to the aircraft industry. Together with Safran, we will deliver innovative products and solutions, answering the industry`s needs for well-processable, cost efficient and sustainable light-weight materials."

Stated as the group’s Strategic Focus in its Medium-term Management Plan for 2020–2022, Teijin is pushing forward its development of mid- to downstream applications for aircraft, targeting annual sales in this field of more than USD 900 million by around 2030.

About the Teijin Group

Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the fields of environmental value; safety, security and disaster mitigation; and demographic change and increased health consciousness. Originally established as Japan's first rayon manufacturer in 1918, Teijin has evolved into a unique enterprise encompassing three core business domains: high-performance materials including aramid, carbon fibers and composites, and also resin and plastic processing, films, polyester fibers and products converting; healthcare including pharmaceuticals and home healthcare equipment for bone/joint, respiratory and cardiovascular/metabolic diseases, nursing care and pre-symptomatic healthcare; and IT including B2B solutions for medical, corporate and public systems as well as packaged software and B2C online services for digital entertainment. Deeply committed to its stakeholders, as expressed in the brand statement “Human Chemistry, Human Solutions”, Teijin aims to be a company that supports the society of the future. The group comprises more than 170 companies and employs some 20,000 people across 20 countries worldwide. Teijin posted consolidated sales of JPY 853.7 billion (USD 8.0 billion) and total assets of JPY 1,004.2 billion (USD 9.4 billion) in the fiscal year that ended on March 31, 2020.

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