Aica Kogyo, DBJ to buy U.S. laminate maker's 4 Asia-Pacific units
HANOI, NNA - Aica Kogyo Co. and Development Bank of Japan Inc. will acquire four Asia-Pacific units of major U.S. high-pressure laminate maker Wilsonart LLC for $150 million by the end of the year, to expand operations in the region.
Aica Kogyo will hold a 51 percent stake in each of Wilsonart (Thailand) Co., Wilsonart (Shanghai) Co., and Hong Kong-based Wilsonart Asia Ltd., with the state-backed bank taking the remainder of the three arms, the company said in a statement released Friday.
Aica Kogyo will fully acquire Wilsonart Australia Pty Ltd., it added.
Aica Kogyo is a leading Japanese high-pressure laminate maker based in Nagoya, central Japan, and operates manufacturing plants in Indonesia, India and Vietnam. (NNA/Kyodo)