- December 11, 2013
WILMINGTON, DE | Kuraray and DuPont 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 US, Europe, and Asia that serve more than 350 customers worldwide.
Keiji Murakami, president of Kuraray's Vinyl Acetate Co., says, "…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.”
"GLS/Vinyls will have a good home with Kuraray,” says William J. Harvey, president, DuPont Packaging & Industrial Polymers. “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."
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