Solutia Completes Acquisition Of Etimex Solar

Date: 3 June 2010
Source: Solutia
ST. LOUIS, June 1, 2010 /PRNewswire via COMTEX/ --Solutia Inc. (NYSE: SOA) has consummated the previously announced purchase of Etimex Solar GmbH, producer of Vistasolar(R) encapsulants, including a leading ethylene vinyl acetate (EVA) encapsulant to the photovoltaic market.

The euro 240 [$294] million acquisition of German-based Etimex Solar from Etimex Holding GmbH, which is controlled by funds advised by Alpha Gruppe, was funded with existing cash.
"The completion of this transaction is a significant step in Solutia's previously stated strategy to prudently grow its specialty chemicals and performance materials portfolio through highly synergistic, bolt-on acquisitions," said Jeffry N. Quinn, chairman, president and chief executive officer of Solutia Inc. "This acquisition enhances Solutia's already strong margins while diversifying and expanding our end markets, further strengthening our position as a leading components supplier to the high-growth renewable energy sector."
The addition of Vistasolar EVA into Solutia's Advanced Interlayer division, which includes Saflex PVB, uniquely positions Solutia as the sole provider of both major encapsulants to the fast-growing photovoltaic industry. "We are positioned to better meet customer needs by providing the broadest product offering in the industry," said Timothy J. Wessel, president and general manager of Solutia's Advanced Interlayer division. "The combined processing expertise, global commercial capabilities and technology resources will accelerate the expansion of both Saflex and Vistasolar in the photovoltaic market."
NOTE TO EDITORS: Solutia, Saflex and Vistasolar are trademarks of Solutia Inc. and/or its subsidiaries. Etimex Solar and Etimex are trademarks of Etimex Holding GmbH.

600450 Solutia Completes Acquisition Of Etimex Solar
Date: 3 June 2010
Source: Solutia

See more news about:

See more from these topics:

Others also read

Keepsafe Maximum Glass preserves aesthetic appeal of the hotel while providing protection from hurricanes
Saflex® Earth Tones Collection Soothing Colors for Today’s Architectural Designs KINGSPORT – Eastman Chemical Company (NYSE:EMN), manufacturer of Saflex® PVB interlayers, announces a new color collection designed to give laminated glass — and thereby any architectural space — greater aesthetics, warmth, and serenity.
When tenants refuse to renew their leases because of heat and glare problems, property owners and managers know they have a severe problem and must address it immediately.
Eastman Chemical Company (NYSE:EMN) is proud to announce that Saflex® DG structural interlayer has been awarded the General Technical Approval (Allgemeine Bauaufsichtliche Zulassung or AbZ) by the German Institute for Building Technology (Deutschen Institut für Bautechnik -DIBt).
High performance window film as applied to commercial and residential properties is so advanced today that you can address solar control, safety, and high energy savings all in one film, according to Bob Kerr, president of Epic Glass Tinting.
Starting today, Eastman Chemical Company (NYSE: EMN) will showcase advanced automotive glazing technologies at its booth during the 2013 Japanese Society of Automotive Engineering (JSAE) World Congress, held May 22 through May 24 in Yokohoma, Japan.

Add new comment