(kuraray) -- Kuraray Co., ( Chiyoda-ku, Tokyo) has agreed to acquire MonoSol, LLC., a U.S. based manufacturer of polyvinyl alcohol film, in support of Kuraray's strategy to expand its "Vinyl Acetate Chemical Chains Business" which is one of the core businesses of Kuraray, and has reached an agreement with MonoSol Holdco, LLC, the parent company of MonoSol, regarding this transaction.
MonoSol is a leading manufacturer of poval films for various industrial applications such as packaging films for unit dose detergent products as well as agrochemicals and dyes, mold-release films for synthetic marble and so on.
Through this acquisition, Kuraray will expand its product offering of poval films into a wider range of industrial applications. Kuraray currently supplies poval film for optical-uses including a polarizing film, which is an essential component of liquid crystal displays. MonoSol manufactures complementary film products.
Kuraray will accelerate the expansion and development of its global "Vinyl Acetate Chemical Chains Business" through organic collaboration among Japan, U.S., Europe and Asia. The transaction is subject to formal approval by the regulatory authorities.
(hydracarbonprocessing) -- Formosa Plastics will build a new, grass-roots 800,000 tpy olefins cracker, an associated 600,000 tpy propane dehydrogenation (PDH) unit and a new 300,000 tpy low density polyethylene (LDPE) resin plant at its site in Point Comfort, Texas, the company said on Monday.
The moves - part of USD1.7 billion in capital investments - are largely based on affordable US natural gas costs for use as feedstock, the company said.
They will create an estimated 1,800 construction jobs and, once completed, an additional 225 long-term operating and maintenance jobs.
The olefins cracker will take advantage of the increasingly reliable and low-cost domestic natural gas and supply feedstock both to existing production units and the new LDPE unit, Formosa said.
The PDH unit will produce additional propylene, increasing operational flexibility.
Meanwhile, the addition of a LDPE resin plant will complement the company's existing product line of Formolene polyethylene (PE) and polypropylene (PP) and Formolon polyvinyl chloride (PVC) and specialty PVC.
Details on the units specific technologies, costs, start-up dates and contractors are not being released, according to the company.
(Reuters) - German chemicals and real estate conglomerate Evonik may have to reconsider the timing of a possible initial public offering (IPO), its majority owner said on Monday.
The RAG Foundation, which has never officially committed to a timetable for floating Evonik, cautioned it would monitor possible risks to an IPO. But it said it continues to support the idea of flotation.
Sources have said the RAG Foundation, which owns 75 percent of Evonik, would publish an intention to float on Friday if it decides to go ahead with an IPO. The shares could then be listed on June 25.