Kuraray, a Japanese company and DuPont announced a definitive agreement for DuPont to sell Glass Laminating Solutions/Vinyls, a part of DuPont Packaging & Industrial Polymers, to Kuraray for $543 million plus the value of the inventories. The sale is expected to close during the first half of 2014 pending 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. Sales are about $500 million. The unit has about 600 employees with six manufacturing sites in the U.S., Europe and Asia that serve more than 350 customers worldwide.
“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. 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