Wilsonart Engineered Surfaces

Wilsonart Engineered Surfaces announced a definitive agreement to sell its Wilsonart Asia business to Aica Kogyo Co. and Development Bank of Japan for $150 million. The transaction is expected to close in Q4 2019.

Aica Kogyo Company and Development Bank of Japan entered a definitive agreement to acquire Wilsonart's businesses in Thailand, China, Australia and Asia from Wilsonart International Holdings for ¥16.2 billion. Aica Kogyo will hold 51% and DBJ 49% in most entities.

Wilsonart Engineered Surfaces agreed to acquire Mermaid Panels Ltd & Shore Laminates Ltd, England-based manufacturers of shower walls and wall panel systems. The transition began December 1, 2017.