Kuraray has decided to invest in a production plant for EVAL™ EVOH resin at our subsidiary in Singapore, Kuraray Asia Pacific Pte. Ltd. (100% owned by Kuraray Co., Ltd.) as follows.
EVAL™ EVOH resin, which we developed and commercialized in 1972 as the world’s first pioneer, is a functional resin with the highest level of gas barrier properties. It is widely used in food packaging applications because it blocks gasses such as oxygen, prevents food deterioration and contributes to the reduction of food loss.
In recent years, the market has shifted to recyclable food packaging materials as the need for environmentally friendly products has increased from the circular economy point of view. The number of inquiries for EVAL™ resin has increased because it is a barrier material that does not disrupt the recycling streams of polyolefins. We expect the demand for EVAL™ resin to be increased globally, in particular in Europe and the United States.
As the world leader of EVOH and barrier materials, we aim to further expand our business and continue to contribute to improvements to the natural and living environments.
Overview of the investment:
| (1)Company name | Kuraray Asia Pacific Pte. Ltd. |
| (2)Head Office | 10 Sakra Ave., Singapore 627887 |
| (3)Representative | Fumio Uegaki |
| (4)Line of Businesses | Manufacture and sales of PVOH resin |
| (5)Capital | US$ 29,775 thousand |
| (6) Established | July 1, 2008 (Originally established as POVAL ASIA PTE LTD in 1996) |
(Reference) Overview of Kuraray Asia Pacific Pte. Ltd.
| (1)Company name | Kuraray Asia Pacific Pte. Ltd. |
| (2)Head Office | 10 Sakra Ave., Singapore 627887 |
| (3)Representative | Fumio Uegaki |
| (4)Line of Businesses | Manufacture and sales of PVOH resin |
| (5)Capital | US$ 29,775 thousand |
| (6) Established | July 1, 2008 (Originally established as POVAL ASIA PTE LTD in 1996) |