Aicello Chemical Co. will expand its polyvinyl alcohol film stake by acquiring Tohcello Co.'s PVOH film product line and assets.
Aicello will boost its PVOH film production capacity by 50 percent as a result of the deal, according to Carlton Wong, national sales manager for Aicello North America Inc. Toyohashi-based Aicello has been capacity constrained in a growing market, Wong said by phone from his Roslyn, N.Y., office. He claimed the two companies are among the world's top five producers.
They have a strong product line, Wong said of Tohcello.
The deal is expected to close April 1. Terms were undisclosed.
Aicello will get Tohcello's Hamamatsu, Japan, PVOH film plant in the acquisition, Aicello said in a March 19 news release. The plant will complement Aicello's production site in Toyohashi.
PVOH films find use in water-soluble packaging, mold releases and transfer printing. Their biodegradability and water solubility are exploited in sustainable packaging for unit-dose laundry and dishwashing detergents.
Aicello also produces corrosion-inhibitor film, clean containers and polyethylene film. Its North American headquarters is in North Vancouver, British Columbia. Tohcello of Tokyo also makes polypropylene and PE films and fibers.
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