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St. Louis MO (SPX) Jun 07, 2010 Solutia has consummated the previously announced purchase of Etimex Solar GmbH, producer of Vistasolar encapsulants, including a leading ethylene vinyl acetate (EVA) encapsulant to the photovoltaic market. The euro 240 [$294] million acquisition of German-based Etimex Solar from Etimex Holding GmbH, which is controlled by funds advised by Alpha Gruppe, was funded with existing cash. "The completion of this transaction is a significant step in Solutia's previously stated strategy to prudently grow its specialty chemicals and performance materials portfolio through highly synergistic, bolt-on acquisitions," said Jeffry N. Quinn, chairman, president and chief executive officer of Solutia Inc. "This acquisition enhances Solutia's already strong margins while diversifying and expanding our end markets, further strengthening our position as a leading components supplier to the high-growth renewable energy sector." The addition of Vistasolar EVA into Solutia's Advanced Interlayer division, which includes Saflex PVB, uniquely positions Solutia as the sole provider of both major encapsulants to the fast-growing photovoltaic industry. "We are positioned to better meet customer needs by providing the broadest product offering in the industry," said Timothy J. Wessel, president and general manager of Solutia's Advanced Interlayer division. "The combined processing expertise, global commercial capabilities and technology resources will accelerate the expansion of both Saflex and Vistasolar in the photovoltaic market."
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Sanyo solar research to focus on cloudsSan Diego (UPI) Jun 4, 2010 Sanyo Electric Group and the University of California, San Diego announced Thursday a $3 million research partnership on solar power. San Diego's Sanyo North America Corp., which will contribute the $3 million over three years, said it expects the partnership to lead to the next generation of solar energy systems and energy management. The research will build on Sanyo's Smart Ene ... read more |
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