Kuraray Co., Ltd. (President: Masaaki Ito; Headquarters: Chiyoda-ku, Tokyo; hereinafter “Kuraray”) hereby announces that it will establish a new MonoSol production facility for PVA water-soluble films in Poland as demand grows for packaging film for unit dose detergents, pharmaceuticals, and other products.
•Global demand is expanding for PVA water-soluble films for use as packaging for unit dose detergents, cosmetics, foods, agrochemicals, pharmaceuticals, and more. The market is expected to continue expanding going forward.
•Kuraray’s U.S. subsidiary MonoSol, LLC, which manufactures and markets PVA water-soluble films, has production bases located mainly in the US Midwest. However, we have now decided to establish a new production base in Poland with the aim of optimizing our global supply chain and expanding sales in Europe.
•To ensure the Company’s ability to meet diversifying customer needs as the world’s No. 1 supplier of PVA water-soluble films, Kuraray will expand its supply system while maintaining its focus on further enhancing product quality and developing new products.
|Location||Zimna Wodka, Poland|
|Slated start||Mid 2022|
|Invested amount||Approximately \5.0 billion|
The Kuraray Group defined its long-term vision for its 100th anniversary in 2026 as being a “Specialty Chemical Company, growing sustainably by incorporating new foundational platforms into our own technologies.” To help ensure the achievement of this vision, we are currently carrying out “PROUD 2020,” a three-year medium-term management plan spanning fiscal 2018 through 2020. Moving forward, Kuraray will continue actively pursuing growth-focused investment.
|Company name||MonoSol, LLC|
|President and CEO||P. Scott Bening|
|Capital||US$59,050 thousand (wholly owned subsidiary of MonoSol Holdings, Inc.)|
|Business||Manufacture and sale of industrial-use PVA film|
|Location||707 E. 80th Place Suite 301, Merrillville, Indiana 46410, U.S.A.|