DuPont To Sell Glass Laminating Solutions/Vinyls To Kuraray For $543 Mln

(RTTNews) - Science and technology based company DuPont (DD), Thursday said it entered into a definitive agreement with specialty chemical company Kuraray, to sell Glass Laminating Solutions/Vinyls or GLS/Vinyls, a part of DuPont Packaging & Industrial Polymers, for $543 million, including the value of the inventories.

GLS/Vinyls 2012 net sales were more than $500 million, and has about 600 employees with six manufacturing sites in the U.S., Europe and Asia that serve more than 350 customers globally. The sale is expected to close during the first half of 2014, subject to customary regulatory approvals.

GLS/Vinyls is a supplier of polyvinyl butyral and ionomer sheets for safety glass, and vinyl acetate monomer and polyvinyl alcohol (PVA) products used in a variety of architectural, automotive and industrial applications.

"We will benefit from DuPont's talented global GLS/Vinyls team and their technology, R&D, manufacturing and sales network that has supported it over the years. I am convinced these areas of expertise will allow us to continue to expand our Vinyl Acetate business going forward," said Keiji Murakami, president of Kuraray's Vinyl Acetate Company.