WILMINGTON, Del., Nov. 21, 2013 /PRNewswire/ -- Kuraray
(TSE:3405) and DuPont (NYSE: DD) today announced they have signed a
definitive agreement for DuPont to sell Glass Laminating
Solutions/Vinyls (GLS/Vinyls), a part of DuPont Packaging &
Industrial Polymers, to Kuraray for US$543
million, plus the value of the inventories. The sale
is expected to close during the first half of 2014 pending
customary regulatory approvals.
GLS/Vinyls is a leading supplier of polyvinyl butyral and
ionomer sheets for safety glass, and vinyl acetate monomer and
polyvinyl alcohol (PVA) products used in a variety of
architectural, automotive and industrial applications.
GLS/Vinyls delivered full-year 2012 net sales of more than
US$500 million. It has about
600 employees with six manufacturing sites in the U.S.,
Europe and Asia that serve more than 350 customers
worldwide.
Keiji Murakami, president of Kuraray's Vinyl Acetate Company
said, "Kuraray was one of the first to successfully industrialize
and globally market PVA. As a pioneer of Vinyl Acetate
related business, Kuraray has a global presence in the business
area of PVA resin, PVB resin and film, PVA film that is used for
LCD and detergent unit packing, EVOH (ethylene vinyl alcohol) resin
(trademarked as EVAL) used for food packaging and gasoline tanks,
and PVA fiber (vinylon) that is used for a substitute of asbestos
and a reinforcing material of cement.
"We will benefit from DuPont's talented global GLS/Vinyls team
and their technology, R&D, manufacturing and sales network that
has supported it over the years. I am convinced these areas
of expertise will allow us to continue to expand our Vinyl Acetate
business going forward," said Murakami.
"GLS/Vinyls will have a good home with Kuraray. That
company's focus on PVA as a central part of its core Vinyl Acetate
business, its strong global market position and its capacity to
invest in GLS/Vinyls all make this a good fit," said William J.
Harvey, president, DuPont Packaging & Industrial Polymers.
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 19 countries and regions outside
Japan, as a global specialty
chemical company. For more information, visit the company's
website at www.kuraray.co.jp/en
DuPont has been bringing world-class science and engineering to
the global marketplace in the form of innovative products,
materials, and services since 1802. The company believes that
by collaborating with customers, governments, NGOs, and thought
leaders we can help find solutions to such global challenges as
providing enough healthy food for people everywhere, decreasing
dependence on fossil fuels, and protecting life and the
environment. For additional information about DuPont and its
commitment to inclusive innovation, please visit
www.dupont.com.
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SOURCE DuPont