AICA Kogyo Co.

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.

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.