In line with group strategy to expand its vinyl acetate chemical chains business, Japanese chemicals producer Kuraray (Tokyo; www.kuraray.co.jp) on 22 May announced that it had agreed to acquire US water-soluble polyvinyl alcohol (PVA) films manufacturer MonoSol (Merrillville, Indiana; www.monosol.com). Financial details of the deal, which still has to meet the necessary regulatory approval, were not disclosed.

Established in 1953, MonoSol produces poval films for a range of applications, including packaging for unit dose detergent products as well as agrochemicals and dyes, among others. Under the terms of the agreement, MonoSol will continue to operate as an independent company under Kuraray Holdings USA. All 300 employees will be transferred to the new company.

Commenting on the agreement, MonoSol CEO P. Scott Benning said, “This merger will allow MonoSol to continue to grow and service its customer base while providing additional R&D resources – capitalising on the expertise of both groups.”