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Solutia Buying Etimex Unit For $327M

Specialty chemical and products maker said it will acquire a subsidiary of Etimex Holding GmbH for $327 million in cash.

Mar 1, 2010

ST. LOUIS (AP) -- Specialty chemical and products maker Solutia Inc. said Monday that it will buy a subsidiary of Etimex Holding GmbH for 240 euros ($327 million) in cash.

Solutia plans to pay for its purchase of Etimex Solar GmbH with cash on hand and additional debt. The unit makes materials used in solar power products.

The acquisition is expected to close in the second quarter.

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