Kuraray to buy Calgon Carbon
The parties are targeting a closing by the end of December, 2017.
US-$1.3 billion deal
Under the merger agreement Kuraray will acquire Calgon Carbon for $21.50 per share in cash, which equates to an equity value of approximately US-$1.1 billion, and a transaction value in excess of US-$1.3 billion. While this acquisition will enhance Kuraray’s growth strategy and global presence in activated carbon and filtration media, it intends to operate Calgon Carbon as a separate subsidiary of Kuraray. The companies will align the organisation and operation from Calgon Carbon’s world headquarters in Pittsburgh, Pennsylvania.
As a pioneer of vinyl acetate related business, Kuraray has a global presence in the business area of PVA (polyvinyl alcohol) resin, PVB (polyvinyl butyral) resin and film, PVA film that is used for LCD and detergent unit packing, EVOH (ethylene vinyl alcohol) resin used for food packaging and gasoline tanks, and PVA fiber that is used for a substitute of asbestos and a reinforcing material of cement.
About Calgon Carbon
Calgon Carbon is the world’s largest producer of granular activated carbon and supplies more than 100 types of activated carbon products – in granular, powdered, pelletised and cloth form – for more than 700 applications.