Post Time：Oct 31,2014Classify:Industry NewsView：463
Kuraray Co. Ltd. has reached an agreement with GVC S.A. to sell the European PVB film business formerly owned by European subsidiaries of DuPont. The transaction, which includes a production facility in Uentrop, Germany and a research and development center in Mechelen, Belgium, is set for approximately $15.2 million.
According to a release, it includes “adjustments for net cash/debt balance and net working capital upon closing to GVC S.A. which is a subsidiary company of GVC Holdings Inc.”
The deal is expected to close in January 2015 after customary regulatory approvals. The closure is also conditional upon the European Commission’s approval. The transaction was undertaken to comply with the European Commission’s conditional approval of Kuraray’s acquisition of the Dupont’s Glass Laminating Solutions/Vinyls business, which closed on June 1, 2014.
The impact of the transaction on consolidated results for the fiscal year ending December 2014 is currently being quantified and will be disclosed after its assessment has been completed.
Source: http://www.usglassmag.com/2014/10/kuraray-sell-forAuthor: shangyi
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