Japanese chemicals manufacturer Kuraray has entered into a definitive agreement to acquire MonoSol, a manufacturer of polyvinyl alcohol (poval) film.
MonoSol manufactures poval films for various industrial applications, including packaging films for unit-dose detergent products, mould-release films for synthetic marble, and agrochemicals and dyes.
Kuraray stated that the acquisition will enable the company to expand its vinyl acetate chemical chains business through organic collaboration in Japan, the US, Europe and Asia.
Kuraray's vinyl acetate-based products include poval resin, poval film, polyvinyl butyral resin, PVB film, ethylene vinyl alcohol copolymer resin and vinylon fibre.
The company uses its proprietary technology to develop chemicals and resins, fibres and textiles, high-performance materials, medical products and others.
Kuraray supplies poval film for optical uses including a polarising film, which is an essential component of liquid crystal displays.
The transaction is subject to formal approval by the regulatory authorities.