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Kuraray Buys Nippon Gohsei Out of JV

1:41 PM MST | January 14, 2008 | Ian Young

Kuraray (Tokyo) says it plans to become 100% owner of polyvinyl alcohol (PVOH) producer Poval Asia (Singapore) by acquiring the 50% stake of Nippon Synthetic Chemical Industry Co. (Nippon Gohsei; Osaka). The transfer of Nippon Gohsei’s stake to Kuraray will be effective on January 31, Kuraray says. Financial terms were not disclosed. Poval Asia has capacity for about 40,000 m.t./year of PVOH resins at Jurong Island, Singapore and sales of about $100 million/year. Kuraray Singapore and Nippon Gohsei Singapore, subsidiaries of Kuraray and Nippon Gohsei...

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