Kuraray acquires MonoSol

Japanese firm Kuraray has acquired MonoSol, a company specialising in dissolvable food packaging.

The deal for an unrevealed amount had been given the thumbs-up after it was initially announced on 22 May.

Kuraray said the move was aiming to become a “total global leader in the poval film business, not only for optical uses but also for industrial applications”.

Kuraray will be including MonoSol in its consolidated balance sheets from the first quarter of the fiscal year ending 31 March, 2013 and in its consolidated statements of income from Q3 2013.

MonoSol will continue to operate under the same name, producing and selling industrial-use poval film under the control of Kuraray Holdings U.S.A.