Tokyo, July 27, 2012 (JCN) - Kuraray has completed the transaction to acquire U.S.-based MonoSol, LLC., which manufactures and sells polyvinyl alcohol ('poval') film. The acquisition, announced on May 22, forms part of Kuraray's strategy to expand its Vinyl Acetate Chemical Chains Business, which is one of its core businesses.
The Acquisition comes as part of a strategy to become the global leader in the poval film business, not only for optical uses such as liquid crystal displays, but also for industrial applications,including various types of packaging materials and mold-release films for synthetic marble.
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's company name and basic management system will remain unchanged following the acquisition.
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