People & Business :: Companies
Solutia to Acquire Films Firm
11:55 AM MDT | October 7, 2011 | Vincent Valk
Solutia has agreed to acquire Southwall Technologies (Palo Alto, CA), a maker of energy efficient films and glass products aimed at the automotive and architectural markets, the company says. The purchase price will be about $113 million, or $13.60/share. Southwall was trading at around $9.50/share prior to the announcement, though its share price reached $13 before the stock market declined over the summer. Southwall recorded a loss of $600,000, or 12 cts/share, during the second-quarter of 2011, on revenues up 14% year-on-year to $13.5 million. The...
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