24-05-2012: Kuraray Co., Ltd. and MonoSol, LLC announced that Kuraray has agreed to acquire MonoSol, a market-leading manufacturer of water-soluble polyvinyl alcohol (PVA) films. This acquisition by Kuraray supports its strategy to expand its Vinyl Acetate Chemical Chain Business. Terms of the transaction were not disclosed.
Through this acquisition, Kuraray will expand its product offering of PVA films into a wider range of industrial applications, thereby enhancing its competitiveness. Kuraray currently supplies "POVAL" PVA film for optical-uses including a polarizing film, which is an essential component of liquid crystal displays.
"This merger will allow MonoSol to continue to grow and service its customer base while providing additional R&D resources – capitalizing on the expertise of both groups. Utilizing the Kuraray Acetyl Products expertise will allow MonoSol to reach our product development goals faster and more efficiently. We are very excited about this combination and look forward to our future with Kuraray," said P. Scott Bening, President and CEO of MonoSol, LLC.
The transaction is subject to approvals by the appropriate regulatory authorities. The business will be operated as an independent company under Kuraray Holdings U.S.A., Inc. and all employees will be transferred to the new company.
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