Kuraray to acquire MonoSol
Kuraray and MonoSol have reached a new takeover agreement.
Kuraray has agreed to acquire US polyvinyl alcohol supplier MonoSol.
The former hopes to expand its Vinyl Acetate Chemical Chains Business - one of its core enterprises - and believes this latest move will go some way to helping it achieve this goal.
Formal approval by regulatory authorities is required before the transaction - which may have involved the use of negotiation strategies - can be finalised.
Kuraray plans to expand its product offering of poval films so they can be used within a wider range of industrial applications.
Currently, the poval film it supplies is used in optical work and includes a polarising film, which is essential for the creation of liquid crystal displays.
For the fiscal year to March 31st 2012, Kuraray recorded growth of 5,784 yen (£45) - or 1.6 per cent - compared with the previous 12-month period, taking it to 368,975 million yen.
It noted its operating environment was negatively affected by increases in the price of raw materials and fuel.
Posted by Ken Hayes
Source: Kuraray press release, May 22nd