Solutia acquire Southwall Technologies, films firm

Solutia to acquire Southwall Technologies, a films firm

2:06 AM, 10th October 2011
Solutia to acquire Southwall Technologies, a films firm
Jeffry N Quinn, Chairman, President and CEO, Solutia Inc.

ST LOUIS/PALO ALTO, US: Solutia Inc will acquire Southwall Technologies Inc for $13.60 per share of Southwall common stock in cash. The transaction has an aggregate equity purchase price of approximately $113 million. The acquisition will be funded by Solutia from existing cash on hand.

“This acquisition positions Solutia as the world leader in advanced sputtering technology, combining the industry’s commercial expertise with next-generation innovation capabilities to provide advanced film solutions to premium window film and electronics markets,” said Jeffry N Quinn, Chairman, President and CEO, Solutia Inc.

The acquisition will secure Solutia’s access to Southwall’s proprietary XIR technology. Additionally, the acquisition adds manufacturing capacity and proprietary capabilities to support fast-growing demand for high-tech films for the electronics market and even new product offerings.

“This will help us realize potential of Southwall’s portfolio of energy efficiency solutions as we combine our innovation in sputtering technology with Solutia’s commercial and market expertise. Together we will focus on delivery of next-generation films,” said Dennis Capovilla, President and CEO, Southwall Technologies Inc.

Under the terms of the agreement, it is anticipated that a subsidiary of Solutia will commence a tender offer for all of the outstanding shares of Southwall common stock no later than October 25, 2011. The $13.60 per share in cash for all Southwall stockholders represents a 45 per cent premium to closing share price of Southwall common stock on October 6, 2011.

© WOC News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

BASF and Ineos joint venture, Styrolution commences business

LUDWIGSHAFEN, GERMANY/ROLLE, SWITZERLAND: BASF SE and Ineos AG have received approvals from all relevant antitrust authorities for the formation of th ...

Read more
Albemarle environmental division opens new laboratory in Baton Rouge

BATON ROUGE, US: Albemarle Corporation has opened its new environmental research and development facility in Baton Rouge. The new facility will allo ...

Read more
Quaker Chemical acquires G W Smith & Sons in US

  CONSHOHOCKEN, US: Quaker Chemical Corporation has acquired G W Smith & Sons Inc. The acquired business has net sales of approximately $14 ...

Read more
Lubrizol announces officer changes

CLEVELAND, US: Lubrizol Corporation announces several officer changes. These changes were driven in part by the completed acquisition of Lubrizol by ...

Read more
Sealed Air introduces new service for health professionals

ELMWOOD PARK, US: Sealed Air Corporation introduced vision safety solutions (VSS), a breakthrough service offering that enables health care faciliti ...

Read more
Foster Wheeler bags contract for Apache Khalda Qasr project in Egypt

  ZUG, SWITZERLAND: Foster Wheeler AG’s, Global Engineering and Construction Group subsidiary has received a contract from Apache Khalda C ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X