Kuraray Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President: Masaaki Ito; hereinafter "Kuraray") hereby announces its decision to withdraw from the ethylene vinyl acetate (EVA) copolymer emulsion business (Kuraray trademark: PANFLEX).
To date, Kuraray has been endeavoring to improve the profitability of its EVA copolymer emulsion by reducing product costs and promoting high-value-added grades.
However, the current market environment is likely to remain harsh, and we have therefore judged that it would be extremely difficult to secure sufficient profit to sustain the EVA copolymer emulsion business. Accordingly, we have decided to withdraw from said operations. Our plans call for terminating the production and marketing of these products on June 30 and September 30, 2020, respectively.
We extend our wholehearted gratitude to our business partners and other stakeholders for their longstanding support of our EVA copolymer emulsion and sincerely ask for their understanding of our decision.