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[August 2000]
Ferro Completes Acquisition of Solutia's Polymer Modifiers Business
The Ferro Corporation has completed the previously announced acquisition of the polymer modifiers business and related manufacturing facilities of Solutia Inc., St. Louis, Missouri. Under the terms of the agreement, Ferro acquires the business, as well as Solutia’s Delaware River plant in Bridgeport, New Jersey. Ferro also acquires manufacturing units in Newport, Wales and in Antwerp, Belgium.
Solutia’s polymer modifier business is a key global producer of specialty plasticizers (chemical additives) and other modifiers used in the production of a variety of plastics. The business will be integrated into Ferro’s Polymer Additives business unit which holds a key North American position in supplying high-quality additives, including lubricants and stabilizers, for compounding various plastic resins including polyvinyl chloride, polyolefins, styrenics and elastomers.
The completion of the acquisition brings together two franchise businesses with solid market positions and brand recognition and will help Ferro broaden and strengthen its product offering in existing markets and serve new markets such as polyurethanes and polysulfides. Additionally, the acquisition offers Ferro opportunities to sell products internationally through a European manufacturing and market presence.
ENDS