Following its 2010 acquisition of Singapore-based Novomatrix, Solutia’s performance films unit will be expanding its manufacturing capacity with the purchase of selected assets of Taiwan-based conductive film manufacturer Aimcore Technology. The US$7 million deal will allow Solutia to increase its manufacturing capacity in Asia while also multiplying its Flexvue film component production. The escalation in Solutia’s production capacity is anticipated to be on-line during 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 chief executive officer 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.”