Update July 27, 2012 – BUSINESS WIRE — Kuraray Co., Ltd. (TOKYO:3405, ISIN:JP3269600007) completed the transaction necessary to acquire MonoSol LLC, having received formal approval by the regulatory authorities.
MonoSol will operate as a company that produces and sells industrial-use poval film under the control of Kuraray Holdings U.S.A., Inc., Kuraray’s U.S.-based subsidiary. MonoSol’s company name and basic management system will remain unchanged following the acquisition.
Kuraray is scheduled to include MonoSol in its consolidated balance sheets from the first quarter of the fiscal year ending March 31, 2013 and in its consolidated statements of income from the third quarter of the same fiscal year onward.
June 1, 2012 – BUSINESS WIRE — Kuraray will acquire MonoSol, manufacturer of polyvinyl alcohol (poval) film, to expand Kuraray’s core Vinyl Acetate Chemical Chains Business.
MonoSol Holdco, LLC, the parent company of MonoSol, formed an acquisition agreement with Kuraray. The transaction is subject to formal approval by the regulatory authorities.
Kuraray supplies poval films for optical applications, such as a polarizer film used in liquid crystal displays (LCDs). MonoSol’s poval films are complementary to Kuraray’s and used for packaging films for unit dose detergent products, agrochemicals, mold-release films, etc. The acquisition will bring Kuraray into these industrial markets.
Kuraray’s Vinyl Acetate Chemical Chains Business comprises poval films as well as poval resin, polyvinyl butyral (PVB) resin, PVB film, EVOH (ethylene vinyl alcohol copolymer) resin, and vinylon fiber.
Monosol is based in Indiana, with production in the US and UK. It employs approximately 300 people.
Kuraray develops chemicals and resins, fibers and textiles, high-performance materials, medical products and more. Learn more at http://www.kuraray.co.jp/en/