Corrected: US Solutia seeks more acquisitions - chief executive

27 July 2010 21:41  [Source: ICIS news]

Correction: In the ICIS news story headlined "US Solutia seeks more acquisitions - chief executive" dated 27 July 2010, please read in the second paragraph …Jeffry Quinn… instead of …Jim Quinn…. A corrected story follows.

HOUSTON (ICIS news)--US specialty chemicals producer Solutia is searching for more acquisitions that would complement its current products and increase its exposure to emerging markets, its chief executive said on Tuesday.

Solutia is considering companies that it could merge into its existing subsidiaries, that would increase its earnings per share and that would create a combination that, in sum, would exceed that of its parts, said Jeffry Quinn, Solutia chief executive.

Quinn made his comments during an earnings conference call.

Future acquisitions would resemble those that Solutia recently completed, such as Novomatrix and Etimex Solar, Quinn said.

Etimex makes ethylene vinyl acetate (EVA), which is used as an encapsulant in solar modules.

Etimex complements Solutia's polyvinyl butyral (PVB), a competing encapsulant, the company said.

Novomatrix makes window films for automobiles, houses and buildings. Although Solutia also makes window films, the Novomatrix deal expanded the company's reach in southeast Asia and the Middle East.

"We think there are many options out there s far as adding businesses, adding platforms that play very well to the core competencies and track record of this organisation," Quinn said.

For more on Solutia visit ICIS company intelligence
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By: Al Greenwood
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