July 25, 2012
Kuraray Co., Ltd.
Kuraray Co., Ltd. announced on May 22, 2012 its decision to acquire U.S.-based MonoSol, LLC. ("MonoSol"), which manufactures and sells polyvinyl alcohol ("poval") film. This acquisition forms part of Kuraray's strategy to expand its "Vinyl Acetate Chemical Chains Business," which is one of its core businesses. Kuraray today announces the completion of the transaction necessary to acquire MonoSol, having received formal approval by the regulatory authorities.
Regarding the inclusion of MonoSol in Kuraray's consolidated account settlement, 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.
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.
|Location||Merrillville, Indiana, USA|
|Business offices||U.S. and U.K. (production facilities)|
|Representative||P. Scott Bening|
|Number of employees||Approximately 300|
|Principal businesses||Manufacture and sale of industrial-use poval film (including individual packaging for detergents, agrochemicals and dyes as well as mold-release films for synthetic marble)|