MERRILLVILLE, Ind., May 23, 2012
/PRNewswire-Asia/ -- Kuraray Co., Ltd. (Kuraray) and MonoSol, LLC
announced today that Kuraray has agreed to acquire MonoSol, LLC
(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 每 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.
About Kuraray Co., Ltd.
Kuraray was established in 1926. In 1950, the
company achieved a corporate milestone as the first in the world to
bring polyvinyl alcohol synthetic fiber to market. In subsequent
years, Kuraray used its proprietary technology in the area of
polymer chemistry and synthetic chemistry to develop resins,
chemicals, fibers and textiles and others. Kuraray has overseas
subsidiaries in 17 countries and regions outside Japan, as a global
specialty chemical company. For more information, visit the
company's website at
http:www.kuraray.co.jp/en( http://www.kuraray.co.jp/en ).
About MonoSol, LLC
Since 1953, MonoSol, LLC has been a leader in
specialty water-soluble polymer-based films. MonoSol offers a wide
range of water-soluble delivery systems for unit-dose applications
for consumer, agricultural chemicals and industrial products,
release films, transfer printing, embroidery support films,
water-soluble laundry bags, edible films and TerraLOC, a unique
dust abatement system. MonoSol maintains a global network of
dedicated partners to offer sales, service and technical support to
its worldwide customer base. Certified ISO 9001:2000, MonoSol
maintains the highest quality standards. Headquarters are based in
Merrillville, Indiana, USA with manufacturing facilities in Portage
and La Porte, Indiana, USA and Hartlebury, England. For more
information, visit www.monosol.com and
www.terraloc.com.
Contact Information Kuraray
Attn: Tomoyuki SHIMAMOTO
OTE CENTER BLDG., 1-1-3,
Otemachi
Chiyoda-ku, Tokyo 100-8115,
Japan
+81-3-6701-1071
[email protected]
Contact Information MonoSol,
LLC
Attn: P. Scott Bening
707 East 80th place, suite
301
Merrillville, IN 46410
+1-219-764-1112
[email protected]
SOURCE﹛MonoSol, LLC