- Published on Wednesday, 29 August 2012 08:36
- Written by Staff Reporter
JAPAN/US – Polyvinyl alcohol (PVA) company Kuraray has acquired MonoSol, a US manufacturing company involved in the development of dissolvable pouches for food packaging, for an undisclosed sum.
MonoSol now operates independently under Kuraray Holdings USA, with all employees transferred to the new company.
Since 1953, MonoSol has been dedicated to manufacturing water soluble polymer films, compounds, and solutions. The US company is the developer of a food packaging technology that dissolves when exposed to water; the pouch is suitable for a range of foods including oatmeal, cereals, soups, gravies and sauces, hot chocolate and dry ingredients.
P. Scott Bening, President and CEO of MonoSol, said, “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 out product development goals faster and more efficiently. We are very excited about this combination and look forward to our future with Kuraray,” he added.
For Kuraray - involved in chemicals and resins, fibers and textiles, high performance material, and medical products – the acquisition supports its strategy to expand its vinyl acetate chemical chain business.
Kuraray’s new Thai subsidiary
The company also established a local subsidiary as well as commencement of operations in Thailand earlier this month, with the aim of accelerating market development in the Southeast Asian country.
“In light of its position as a global processed food manufacturing base and its ongoing development as a central hub of the automobile industry in Southeast Asia, Thailand has become an important country in Kuraray global strategy,” said Kuraray.
Based in Bangkok, Kuraray (Thailand) Co Ltd will function as a sales and marketing development base for EVAL gas impermeable resin, which is used in food packaging materials and plastic gas tanks.