Rütgers AG, based in Essen, Germany, has signed an agreement
with the German Kuraray Specialties Europe GmbH (KSE) based in
Frankfurt, Germany, for the sale of its Trosifol activities, a
part of HT Troplast AG, of Troisdorf, Germany. KSE, a subsidiary
of the Osaka, Japan-based Kuraray Co. Ltd., is a producer of polyvinyl
alcohols, one of the initial products for manufacturing polyvinyl
butyral resins such as Trosifol PVB film.
According to a Kuraray news release, the companies have agreed
to remain silent over the purchase price. The sale is still subject
to approval but will likely be finalized at the end of 2004. In
addition, the company says that rather than restructuring its
acquisition, it is intending to strengthen and expand production
in the existing plants in Troisdorf and Nizhny Novgorod, Russia.
"HT Troplast AG's Trosifol business is an outstanding investment
for us, enabling us to extend our value-added chain," said
Gerd Lepper, president of Kuraray Specialties Europe. "We
want to expand this business in the long term, and the good, longstanding
relations between our companies will be very useful in this."