Solutia: high-tech film manufacturing footprint expanded to Asia

Solutia Inc. has entered into an agreement to acquire selected assets of Aimcore Technology Co., Ltd., a leading conductive film manufacturing firm based in Taiwan, for approximately USD 7 million.
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Solutia Inc. has entered into an agreement to acquire selected assets of Aimcore Technology Co., Ltd., a leading conductive film manufacturing firm based in Taiwan, for approximately USD 7 million. The acquisition will be an addition to Solutia“s Performance Films segment and will result in greater manufacturing capacity for the production of Solutia“s Flexvue film components, which are used in touch screens, solar applications and e-readers. The acquisition will add state-of-the-art equipment and expand Solutia“s film manufacturing operations into Asia, with operations expected to be on line in the second half of 2011. “This acquisition will strengthen Solutia“s position at the forefront of the high-technology electronic films market and bolster the company“s ability to meet growing demand for our products in the Asia-Pacific region,” said Jeffry N. Quinn, Chairman, President and CEO of Solutia. “Solutia continues to execute its clearly charted strategy of using bolt-on acquisitions to support the growth of our existing businesses, focusing on high-value specialty materials and high-growth markets.” The acquisition will be the second in less than one year for Solutia“s Performance Films segment, after the addition in 2010 of Singapore-based Novomatrix, a leader in window film branding, marketing and distribution. “Solutia“s Performance Films segment is positioned with the capacity, technology and geographic reach to develop the next generation of innovative film components across a diverse set of global markets,” said D. Michael Donnelly, president and general manager of Solutia“s Performance Films segment.