Upcoming/New CFIUS Filing: Kaneka Corporation and Applied Poleramic Inc.
Status: Upcoming/New Filing
Acquirer: Kaneka Corporation (Japan)
Acquired: Applied Poleramic Inc. (US)
Value: Approx. US$15 million
On June 19, Kaneka Americas Holding, Inc., the US subsidiary of Japan based Kaneka Corporation, and Applied Poleramic Inc., a California formulated advanced resin supplier in the aerospace area, entered into a Stock Purchase Agreement whereby Kaneka Americas Holding will acquire 100% of Applied Poleramic. (See Kaneka Americas Holding Press Release, Kaneka has agreed to acquire a U.S. Formulated Advanced Resin Supplier – Making a Full-scale Entry into Aerospace Business, June 20, 2017.) According to the announcement by Kaneka Americas Holding, “[t]he acquisition is subject to approval by the Committee of [sic] Foreign Investment in the United States.” (Id.)