When natural gas prices declined in 2008, companies around the world didn’t realize the impact of shale gas on the global economy. Since 2004, the costs to produce specialty materials in the United States has more than doubled, making it difficult for most chemical companies to keep up with the rise in cost.
Then when raw material and energy costs collapsed in 2009, many assumed the global recession was the cause, instead of attributing the sharp fall to the transformation of the shale gas industry.
Faced with this opportunity, the CEO of Kuraray America, George Avdey, urged global leadership in Japan to set up manufacturing sites in the U.S. that could source abundant ethane and propane-derived products.
With approval from Tokyo, construction of a polyvinyl alcohol (PVOH) plant began in mid-2012. The plant is due to open in October and will make Kuraray among the world’s largest PVOH producers.
“Kuraray had to transform itself from an innovative fibers company to a specialty materials company with a wide range of products. Kuraray understands that its product markets are global. They’ve created training programs to globalize their business,” said Avdey.
In 2013, when DuPont announced the sale of its glass laminating solutions businesses, Kuraray acquired three facilities in the U.S. In four years, Kuraray America’s workforce has grown from 200 employees to 715 as it acquired technology and production sites.
“I am humbled that Kuraray has given me the responsibility to manage their business here in the U.S.,” added Avdey, who started with Kuraray in 2000.
