ST. LOUIS – Solutia Inc., a leading performance materials and specialty chemicals company, has completed its acquisition of Southwall Technologies Inc., an innovator of energy-saving films and glass products for the automotive and architectural markets.
 
"This acquisition combines Solutia’s leading commercial and market expertise with Southwall’s innovative and proprietary capabilities, positioning Solutia to provide the next generation of advanced film solutions to the premium window film and electronics markets," said Jeffry Quinn, chairman, president and CEO of Solutia Inc.  "This step reflects Solutia’s strategy to support our high-growth markets and increase growth potential in our existing businesses."
 
The acquisition was completed on Nov. 28, 2011 by a merger of a subsidiary of Solutia into Southwall.  The merger followed the successful completion by Solutia of a tender offer for all of the outstanding shares of common stock of Southwall at a purchase price of $13.60 per share in cash, without interest and less any applicable withholding taxes.
 
The $113 million transaction was funded by Solutia with existing cash on hand and is expected to be accretive in the first year.