We have been proceeding with the necessary process for the acquisition. On June 9, 2009, we resolved to establish new subsidiaries to acquire the business. We hereby announce that the acquisition was completed on July 1, 2009 (July 2, Japan Standard Time), and started the operation as our business.
Outline of the Companies (subsidiaries established for the acquisition)
1. United States
1) Company name : Sekisui Specialty Chemicals America, LLC
2) Location : Dallas, Texas, U.S.
3) Name of Representative : Tsuyoshi Okano (President and COO)
4) Principal Business : Development, manufacturing and distribution of
PVOH resins
5) Capital Structure : SEKISUI AMERICA CORPORATION 100%
2. Spain
1) Company name : Sekisui Specialty Chemicals Europe, S.L.
2) Location : Tarragona, Catalonia, Spain
3) Name of Representative : Tsuyoshi Okano (President and COO)
4) Principal Business : Manufacturing and distribution of PVOH resins
5) Capital Structure : SEKISUI EUROPE B.V. 100%
Sekisui: Acquisition Of Interlayer Film Raw Materials Business From U.S. Corporation
Date: 6 July 2009
Source: Sekisui
On April 27, 2009, The Board of Directors of Sekisui Chemical Co., Ltd. passed the resolution to acquire the polyvinyl alcohol resin (“PVOH resin”) business from subsidiaries of U.S. chemical company, Celanese Corporation.