Solutia Acquires German-Based Etimex Solar

Solutia Inc. (NYSE: SOA) has consummated the previously announced purchase of Etimex Solar GmbH, producer of Vistasolar® 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."

Source: http://www.Solutia.com/

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Solutia Inc. (2019, March 18). Solutia Acquires German-Based Etimex Solar. AZoM. Retrieved on July 05, 2020 from https://www.azom.com/news.aspx?newsID=21846.

  • MLA

    Solutia Inc. "Solutia Acquires German-Based Etimex Solar". AZoM. 05 July 2020. <https://www.azom.com/news.aspx?newsID=21846>.

  • Chicago

    Solutia Inc. "Solutia Acquires German-Based Etimex Solar". AZoM. https://www.azom.com/news.aspx?newsID=21846. (accessed July 05, 2020).

  • Harvard

    Solutia Inc. 2019. Solutia Acquires German-Based Etimex Solar. AZoM, viewed 05 July 2020, https://www.azom.com/news.aspx?newsID=21846.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit