W.L. Gore & Associates is transferring its Japanese operations, Japan Gore-Tex Inc. (JGI), into a wholly owned subsidiary. Founded in 1974, JGI had been a joint venture between Gore and Junkosha, a local manufacturer of electronic products. Both parties were holding 50 percent of the stakes. Most recently, JGI had sales at $300 million and employed 500 people in Tokyo and Okayama.
Today JGI engages in research, development, manufacturing, sales and marketing of products based on Gore’s polytetrafluoroethylenee (PTFE) technology. The Japanese division does not only develop and sell products in the field of fibers and fabrics, but also in the sectors of industrial and medical products.
Gore states that the takeover of Junkosha’s shares in JGI is aimed to take the successful 35-year-old relationship to its next level thanks to a closer partnership between W.L. Gore and its now 100 percent subsidiary. Currently, Gore, which is based in Newark, Delaware, posts annual sales of about $2.5 billion and employs 9,000 people in 30 countries.