July 25, 2012
KURARAY Co., Ltd.
On May 22, 2012, KURARAY announced on May 22, 2012, its decision to acquire MonoSol, a U.S.-based manufacturer of polyvinyl alcohol (POVAL) film, in support of KURARAY's strategy to expand its "Vinyl Acetate Chemical Chains Business," which is one of its core businesses. KURARAY, which had been carrying out necessary procedures for the acquisition, received official approval from the regulating authorities, thereby completing the acquisition of MonoSol.
Objective of the Acquisition
- To become a total global leader in the POVAL FILM business, not only for optical-use POVAL FILM (*1) but also industrial-use POVAL FILM (*2).
- *1for liquid crystal displays
- *2for various packaging materials, mold-release films for synthetic marble, etc.
The inclusion of MonoSol in KURARAY's consolidated financial statements will commence in the first quarter of the fiscal year ending March 31, 2013, for consolidated balance sheets and in the third quarter of the fiscal year ending March March 31, 2013, for the consolidated statements of income.
Overview of Business Operations
MonoSol will operate under KURARAY's U.S.-based subsidiary KURARAY Holdings U.S.A., as a company that manufactures and sells industrial-use POVAL FILM. The MonoSol company name and basic management structure will remain unchanged following the acquisition.
Outline of MonoSol
|Location||Merrillville, Indiana, U.S.A.|
|Offices||The U.S. and U.K. (plant)|
|Representative||P. Scott Bening|
|No. of employees||Approximately 300|
|Principle businesses||Manufacture and sale of industrial-use POVAL FILM (including use as single-unit packaging of detergents, agricultural chemicals, dyes, etc., as well as mold-release films for synthetic marble)|
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