The ATI acquisition provides technology to help fuel the growth and development of CPFilms' broad product portfolio while immediately adding sales volume in the dyed window film components segment.
"CPFilms is committed to continuing our strong record of global growth and market development, and this acquisition will help us to take an important step in that direction," said Kent Davies, president of Solutia's CPFilms business. "CPFilms will continue to emphasize customer service, quality, and product performance as we serve ATI's components customers. In addition, we are broadening our portfolio of available technologies to drive window film sales all over the world."
Solutia's CPFilms business is the world's largest producer of high-quality, after-market window films, which bring benefits such as comfort, aesthetics, energy savings, and security when applied to glass. CPFilms also is a leading supplier of high-value precision coated films and film components sold to a variety of industries, and holds market-leading technology positions in support of both businesses. CPFilms is based in St. Louis, Mo., with manufacturing facilities in Martinsville, Va., Axton, Va., Canoga Park, Calif., and Runcorn, U.K.
Based in Alpharetta, Georgia, ATI specializes in dyeing polyester film with a proprietary, patented thermosol process. ATI was formed in 1991 and has exclusively manufactured dyed film since its inception.
Dyed film is an important component of finished window film products and a key segment within CPFilms' Precision Coatings business. The ATI acquisition enhances the business' position as a technology leader and supplier of dyed film while providing technologies that will allow it to continue to emphasize the marketing, manufacturing and development of highly-differentiated branded window films.
Under the purchase agreement, ATI's founders and principal owners, Tony Mercado and Don Futch, will serve as consultants to CPFilms following the closing of the transaction.