Solutia has signed a definitive agreement
to sell its resins, additives and
adhesives businesses to UCB S.A. for
$500 million. The sale is expected to
close early this year.
“We are very pleased to welcome
the resins, additives and adhesives
businesses into our portfolio of specialty
chemicals for coatings business,”
said Georges Jacobs, chairman
of the executive committee of UCB.
“These businesses have played an
important role in the development of
environmentally-friendly resins.
The products include a variety of
water-borne resins, dozens of specialized
Gelva adhesive formulations and
additives products used in a broad
range of applications.
Solutia will continue to manufacture
Resimene amino cross-linking
resins for UCB at its LaSalle, Canada
facility and Indian Orchard plant in
Springfield, MA, and Gelva adhesives
in Massachusetts. All other manufacturing
assets at the Indian Orchard
facility will remain part of Solutia.
The sale does not include Solutia’s
industrial products businesses or its
Butvar and Santotac product lines