UCB have just received approval from the European Commission and have completed their acquisition of Solutia’s specialty Chemicals division for US$500 million. This follows on from the US Federal Trade Commission approving the deal earlier in January.
Businesses to that will be acquired by UCB include resins, additives and adhesives. These will be integrated into UCB’s Chemicals and Films business to form the Surface Specialties business.
It is estimated that approximately 1700 employees of Solutia will be affected by the deal being transferred to UCB.
For more information on adhesives, click here.