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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Wilsonart Engineered Surfaces Closes Transaction to Divest Asia Business

December 30, 2019 GMT

AUSTIN, Texas, Dec. 30, 2019 (GLOBE NEWSWIRE) -- Wilsonart Engineered Surfaces today announced that the Company has successfully closed the previously announced transaction to divest its Wilsonart Asia business to Aica Kogyo Co. Ltd. and the Development Bank of Japan Inc., a co-investor in the transaction, for a purchase price of $150 million subject to customary adjustments.

About Wilsonart Wilsonart, a world-leading engineered surfaces company, is driven by a mission to create surfaces people love, with service they can count on, delivered by people who care. The Company manufactures and distributes High Pressure Laminate, Quartz, Solid Surface, Coordinated TFL and Edgebanding and other decorative engineered surfaces for use in the office, education, healthcare, residential, hospitality, and retail markets. Operating under the Wilsonart®, Arborite®, Bushboard, Durcon®, KML, Laminart®, Mermaid, New Leaf, Polyrey®, Ralph Wilson®, Resopal®, Shore, Technistone® and Wetwall brands, the company continuously redefines decorative surfaces through improved performance and award-winning designs.

About AICAAICA Kogyo Co., Ltd. has grown steadily since it was established in 1936, as a chemical manufacturer, constantly turning out new materials, designs, and technologies over the years. AICA now focuses on a value-added product lineup ranging from chemical products and building materials to specialty & performance materials, by taking advantage of its core expertise in resin technology. For Asia, AICA has already deployed its business widely, especially for industrial adhesive and decorative laminates, as a leading manufacturer through its wholly owned subsidiaries “AICA Asia Pacific Holding (AAPH)” and “AICA Asia Laminates Holding (AALH)” respectively.

Contact information: For inquiries from Japan Danielle Mikesell Nobuyoshi Sakai / Kaori Takasoe Vice President, Marketing & Design AICA Kogyo Co., Ltd. Wilsonart Engineered Surfaces danielle.mikesell@wilsonart.com nobuyoshi.sakai@aica.co.jp / kaori.takasoe@aica.co.jp For inquiries from Asia ex-Japan Yusuke Saito, Director AICA Asia Laminates Holding Co., Ltd. yusuke.saito@aica-al.com