UCB Chemicals has reached an agreement with Solutia to acquire Solutia’s resins, additives and adhesives activity for $500 million, plus a $10 million exclusivity fee.
The new entity is expected to become a strong global player in resins for industrial and specialty coatings, graphic arts and adhesives, focused on environmentally friendly technologies.
The new acquisition reinforces UCB’s position in surface treatment technologies. The activities taken over by UCB from Solutia are complementary to UCB Chemical Specialties’ activities. They cover liquid coating resins (including waterborne and high-solids), technical resins, additives and adhesives. These activities are mainly geared toward high-end industrial coating applications, with a particular focus on metal and automotive.
Combining the two businesses will allow UCB to bring a superior product, application and solutions offering to customers, to realize new innovation and globalization opportunities, and to be truly globally effective.
The acquisition will include approximately 1,700 employees situated in Europe, the Ameri
cas and Asia.
The transaction is expected to close early in 2003, and is subject to regulatory approval.