Nitto Denko to acquire the personal care components business of Mondi for $700m.

Nitto Denko, a Japanese company that produces tapes, vinyl, LCDs, insulation, and several other products, agreed to acquire the personal care components business of Mondi, a British paper and packaging firm, for $700m. "We are pleased to have agreed the sale of PCC to Nitto, knowing they will be great owners of the business. By simplifying our portfolio, the Transaction will enable us to focus on our core packaging and paper businesses and enhance our ability to pursue our strategic priority to grow in sustainable packaging. We remain excited by our opportunity to further serve our customers with innovative solutions that are sustainable by design," Andrew King, Mondi CEO.