Industry News

Kuraray to Transfer Trading of Mica Reinforced Resin Business to Idemitsu Lion Composites

Published on 2011-02-28. Author : SpecialChem

Lion Idemitsu Composites Co., Ltd. (Headquarters: Taito-ku, Tokyo; "Idemitsu Lion Composites") and Kuraray Trading Co., Ltd. (Headquarters: Kita-ku, Osaka; "Kuraray Trading") announced that the two companies agreed on the transfer of Kuraray Trading's mica reinforced resin (product name: MRP®) business to Idemitsu Lion Composites. The business transfer is planned on April 1, 2011.

Kuraray Trading has judged that the further expansion of its mica reinforced resin business, which it has been developing since 2003, would be difficult to achieve within the parameters of the Kuraray Group. In light of this, Kuraray Trading agreed that it would sell this business to Idemitsu Lion Composites, which is in a position to reap synergistic benefits from such an acquisition in the areas of development, production and sales because of the complementary nature of its product lineup.

As of April 1, 2011, Kuraray Trading will sell its mica reinforced resin business to Idemitsu Lion Composites. The scope of business transfer includes assets related to the business, patents for production techniques and know-how.

About Kuraray

Kuraray was founded in 1926 for the purpose of commercializing synthetic rayon, which was cutting edge technology at the time. In 1950 during the post-World War II period, as Japan's first domestic producer of synthetic fiber based on original Japanese technologies, Kuraray became a world leader in the commercialization of PVA (poval) fiber under the KURALON brand, ushering in Japan's pioneering era in the chemical synthetic fiber industry.

Source: Kuraray

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