Solutia to buy Etimex Solar
Solutia Inc. is acquiring the German company Etimex Solar GmbH, a subsidiary of Etimex Holding GmbH, for a price of EUR 240 million in cash and additional debt.
Etimex Solar is a supplier of ethylene vinyl acetate (EVA) encapsulants to the photovoltaic market. The company's VistaSolar products, manufactured in Dietenheim, offer very fast curing EVA films as well as new thermoplastic polyurethane films which do not require the necessity of curing.
By combining EVA with its existing polyvinyl butyral (PVB) encapsulant capabilities, Solutia will be able to provide one of the broadest product portfolios for solar panel encapsulants. The transaction is expected to close during the second quarter of 2010.