Solutia Increases High-Tech Film Manufacturing Capacity in Asia
Friday September 2, 2011, 9:00 am EDT
Investment will support regional growth in electronics and energy markets
ST. LOUIS, Sept. 2, 2011 /PRNewswire/ -- Solutia Inc., a market-leading performance materials and specialty chemicals company, today announced it has acquired additional capacity for its high-tech conductive film manufacturing operation in the Asia-Pacific region, continuing the company's rapid expansion in support of the region's fast-growing mobile electronics and smart window markets. The additional capacity was acquired from Aimcore Technology Co., Ltd., a leading ITO glass manufacturing firm based in Taiwan, for approximately $3.4 million.
The additional capacity will significantly expand the production of Solutia's market-leading Flexvue™ film components and positions the company to provide world-class service to customers in the region. The increased capacity will be located in Taiwan and is slated to be on line by the fourth quarter of 2011.
"Solutia is committed to meeting the needs of the high-tech film market in the Asia-Pacific region and around the globe," said Craig Ivey, president and general manager of Solutia's Performance Films division. "The continuing expansion of the Company's film manufacturing operations has positioned Solutia with the reach and capacity to serve a diverse set of high-growth global niche markets."
Solutia's market-leading Flexvue film components are used in touch screens, solar applications, smart windows and e-readers, adding flexibility, portability and performance to high-tech applications.
The acquisition of additional capacity reflects a continuing commitment to strategic growth initiatives for Solutia's Performance Films division in the Asia-Pacific region. It follows the 2010 acquisition of Singapore-based Novomatrix, a leader in window film marketing and distribution, as well as the second quarter 2011 expansion of Solutia's film manufacturing operation into Taiwan.
More information on Flexvue films is available at www.flexvuefilms.com.
Notes to Editor: SOLUTIA and the Radiance Logo™ and all other trademarks listed below are trademarks of Solutia Inc. and/or its affiliates.
Forward Looking Statements
This press release may contain forward-looking statements, which can be identified by the use of words such as "believes," "expects," "may," "will," "intends," "plans," "estimates" or "anticipates," or other comparable terminology, or by discussions of strategy, plans or intentions. These statements are based on management's current expectations and assumptions about the industries in which Solutia operates. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, those risk and uncertainties described in Solutia's most recent Annual Report on Form 10-K, including under "Cautionary Statement About Forward Looking Statements" and "Risk Factors", and Solutia's quarterly reports on Form 10-Q. These reports can be accessed through the "Investors" section of Solutia's website at www.solutia.com. Solutia disclaims any intent or obligation to update or revise any forward-looking statements in response to new information, unforeseen events, changed circumstances or any other occurrence.
Solutia is a market-leading performance materials and specialty chemicals company. The company focuses on providing solutions for a better life through a range of products, including: Saflex® polyvinyl butyral interlayers for glass lamination and for photovoltaic module encapsulation and VISTASOLAR® ethylene vinyl acetate films for photovoltaic module encapsulation; LLumar®, Vista™, EnerLogic™, FormulaOne®, Gila®, V-KOOL®, Huper Optik®, IQue™, Sun-X® and Nanolux® aftermarket performance films for automotive and architectural applications; Flexvue™ advanced film component solutions for solar and electronic technologies; and technical specialties products including Crystex® insoluble sulfur, Santoflex® PPD antidegradants, Therminol® heat transfer fluids and Skydrol® aviation hydraulic fluids. Solutia's businesses are world leaders in each of their market segments. With its headquarters in St. Louis, Missouri, USA, the company operates globally with approximately 3,300 employees in more than 50 worldwide locations.
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