Kuraray Co. Ltd. is buying MonoSol LLC, a Merrillville maker of water-soluble polyvinyl alcohol films, for undisclosed terms.
P. Scott Bening, president and CEO of MonoSol, said the deal allows both companies to expand their research and development offerings around the world. No job losses are expected, he said.
Tokyo-based Kuraray said the acquisition supports its strategy of expanding the Vinyl Acetate Chemical chain business and will allow it to offer PVOH films to a wider range of applications. The company currently sells Polva PVOH film for optical uses.
The business will be an independent company under Kuraray Holdings USA Inc. and all employees will be transferred to the new company.