By Cameron Chai
Kuraray has declared that it will be taking over the US-based MonoSol, a manufacturer of polyvinyl alcohol (poval) film. This acquisition is part of the company’s strategy to promote one of its key businesses, its “Vinyl Acetate Chemical Chains Business”.
Kuraray declared that the transaction required for the acquisition of MonoSol has been successfully completed and formal approval has been obtained from regulatory authorities.
The key objective of the acquisition is to make its presence felt globally in the poval film business not just for optical use but also for industrial uses.
Optical applications of poval film include liquid crystal displays and industrial applications include different types of mold-release films and packaging materials for synthetic marble.
Kuraray will make MonoSol a part of its consolidated balance sheets from the first quarter of the fiscal year ending March 31, 2013 and in its consolidated income statements from the Q3 of the same fiscal year onward.
MonoSol will function as a company manufacturing and selling poval-film for industrial use under the supervision of Kuraray’s US-based subsidiary, Kuraray Holdings.
The company’s name and management system of MonSol will remain unchanged after the acquisition.
MonoSol is located in Merrillville, Indiana, USA with business offices in the UK and the US. The company representative is P. Scott Bening with around 300 employees. The company is involved in the sale and manufacture of industrial use poval film, which includes individual packaging for detergents, dyes and agrochemicals and mold-release films for synthetic marble.