# AICA Kogyo to acquire two Vietnamese synthetic material makers for $9.2M

AICA Kogyo Co., through its Taiwan-based subsidiary Evermore Chemical Industry Co., will acquire 100% of U-Best Vietnam Polymer Industry Co. and Vietnam Sunyad Technology Ltd for about 980 million JPY ($9.2 million). The acquisition is scheduled to complete in early 2020.

- Type: Acquisition
- Announced: 2019-08-22
- Where: Nhon Trach 5 Industrial Park, Dong Nai province, Vietnam
- Value: $9.20M (980.0M JPY)
- Status: announced
- Products: synthetic leather polyurethane resins, urethane resins
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [AICA Kogyo Co.](https://endata.com/companies/41491.md) (acquirer)
- [Evermore Chemical Industry Co.](https://endata.com/companies/41492.md) (acquirer)
- [U-Best Vietnam Polymer Industry Co.](https://endata.com/companies/41493.md) (target)
- [Vietnam Sunyad Technology Ltd](https://endata.com/companies/41494.md) (target)

## Sources

- [en.vcci.com.vn](https://en.vcci.com.vn/economic-news/japanese-firm-to-buy-two-vietnamese-synthetic-material-makers-58552), 2019-08-22: "AICA Kogyo Co., a Japanese manufacturer of chemicals and housing materials, said on October 4 it will buy two Vietnamese synthetic material makers at a total cost of about 980 million JPY (9.2 million USD)."
- [en.vietnamplus.vn](https://en.vietnamplus.vn/japanese-firm-to-buy-two-vietnamese-synthetic-material-makers-post161560.vnp), 2019-10-04: "The AICA Kogyo’s Taiwan-based subsidiary, Evermore Chemical Industry Co., will sign contracts in early October to acquire a 100 percent stake in U-Best Vietnam Polymer Industry Co. and Vietnam Sunyad Technology Ltd."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.