Mitsubishi Chemical to acquire specialty resins supplier Nippon
Japan’s Mitsubishi Chemical Corporation (MCC) is going all-in on The Nippon Synthetic Chemical Industry Co., buying the remaining shares that it doesn’t already own.
MCC already owns 51.49% of the company, which is also headquartered in Japan. MCC will also merge with acrylic resin, carbon fiber and impact modifier supplier Mitsubishi Rayon, and plastic packaging and agricultural film converter Mitsubishi Plastics in April 2017.
The purchase price has not been disclosed.
Among the products supplied by Nippon Gohsei are Nichigo G-Polymer, a butenediol vinylalcohol (BVOH) copolymer whose applications include gas barrier packaging materials. The company also supplies polyvinyl alcohol (PVOH) film for use in liquid crystal display polarizers, and Soarnol ethylene-vinyl alcohol (EVOH) copolymer barrier resin for use in food packaging film, automotive gasoline tanks and floor heating pipes.
Nippon Gohsei also suppliers water soluble film made from PVOH under the Hi-selon brand for packaging of agricultural chemicals and medicines, among other applications. Its Coponyl brand films made from acrylic acid ester copolymer resin are used in products such as label seals, double-sided tape, and protective films.