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John C. Hunter, chairman, president and chief executive officer of Solutia, said, “Our strengthened financial situation will position Solutia to focus more sharply on the growth and market penetration opportunities that we are pursuing in our remaining businesses.”
Georges Jacobs, chairman of the executive committee of UCB, said, “We are very pleased to welcome the resins, additives and adhesives businesses into our portfolio of specialty chemicals for coatings business. The businesses have been solid performers for Solutia, and we believe that they will be a remarkable fit within UCB, leading to a world-class business for Surface Specialties.”
The agreement includes 10 production sites that make liquid and powder coatings, technical resins, additives products and pressure sensitive adhesives.
For more information, visit http://www.solutia.com.