AICA to buy two Vietnamese PU Producers
2019-11-04    []

Last month, Japan's AICA announced that it would acquire two polyurethane (PU) producers in Vietnam for JPY 980 million.

AICA’s China-based subsidiary signed contracts to acquire a 100 percent stake in U-Best Vietnam Polymer Industry Co. and Vietnam Sunyad Technology Ltd, the firm said in a statement. The three parties signed acquisition agreements in early October and the acquisition is scheduled to complete in early 2020.

AICA has been stepping up exports of PU resins to Vietnam and holds the top share in Vietnam’s market. Therefore, the company is interested in acquiring Vietnamese companies. Meanwhile, the two Vietnamese manufacturers have plants for producing PU resins, which is suitable to Evermore’s strategy to expand its market share in Vietnam and even Southeast Asia.


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