Kuraray to Expand its Vinyl Acetate Business with Acquisition of MonoSol

MERRILLVILLE, Ind. -- Kuraray Co., Ltd. (Kuraray) and MonoSol, LLC announced 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 - 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.

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.