In order to bolster the Kuraray Group's core PVB businesses, Kuraray's wholly-owned European subsidiary Kuraray Europe GmbH (KEG; based in Frankfurt, Germany) entered into a contract to acquire PVB resin-related intellectual property from Wacker Polymer Systems GmbH & Co. KG (WPS). WPS, a subsidiary of German chemical maker Wacker Chemie AG (WC), will provide to KEG brands, patents and technological expertise as follows.
Established in 1914, WC is a leading chemical manufacturer with principal businesses in the areas of silicones and polymers, including emulsions, polymer powders and industrial-use PVB resins. WC recently decided to streamline its polymers business portfolio by discontinuing the production of "PIOLOFORM" polymer binders.
Consequently, KEG will acquire intellectual property related to PVB resins that was formerly held by WPS. This will contribute to fortifying and expanding Kuraray Group's core vinyl acetate and poval-related businesses. Specifically, we expect that the acquisition of the technology related to the specialized brand will enable a broadening of KEG's PVB resins business.
Over the next several months, KEG plans to move forward on receiving technology from WPS.
|Company name||Kuraray Europe GmbH|
|President||Dr. Gerd Lepper|
|Capital||31 Million Euro (100% investment by Kuraray)|
|Principal businesses||Manufacture and sale of PVA resin, butyral (PVB) resin and film. Import and sale of fibers and textiles, chemicals, and dental materials|
|Company name||Wacker Chemie AG|
|President & CEO||Dr. Rudolf Staudigl|
|Capital||261 Million Euro (as of end 2007)|
|Net sales||3,781 Million Euro (2007)|
|Employees||15,044 (as of end 2007)|