Kuraray Co., Ltd. finalized the acquisition of Clariant's polyvinyl alcohol and polyvinyl butyral businesses on December 27, 2001, and launched these businesses as its own operation on the same day. The company entered into an agreement to purchase PVA-related operations on July 9, 2001 and had been proceeding with the various procedures required for the consummation of the acquisition including the approval by the competent authorities.

1. Corporate Data

Company Name Kuraray Specialities Europe GmbH
Capital 20 million Euro (Kuraray Europe GmbH(*) owns 100% share thereof)
President Dr. Gerd Lepper
Head office Frankfurt, Germany
Business line Manufacture and sale of PVA-related products
Production capability PVA (50,000MT/Y), PVB (16,000MT/Y)
Employees about 250
Net sales ¥18 billion (target for fiscal 2003)

2. Major applications of PVA

Fiber sizing agents, paper processing agents, adhesives and PVB, etc.

3. Major applications of PVB

Interlayers used in the manufacture of windows and windshields, specialty paints and adhesives, etc.

* Kuraray Europe GmbH
A European holding company fully owned by Kuraray Co., Ltd.