{"id":678488,"date":"2010-03-01T10:40:07","date_gmt":"2010-03-01T15:40:07","guid":{"rendered":"http:\/\/greenenergyreporter.com\/?p=6680"},"modified":"2010-03-01T10:40:07","modified_gmt":"2010-03-01T15:40:07","slug":"solutia-to-pay-240-million-euros-for-etimex-solar","status":"publish","type":"post","link":"https:\/\/mereja.com\/index\/678488","title":{"rendered":"Solutia To Pay 240 Million Euros for Etimex Solar"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/funding.png?resize=8%2C8\" width=\"8\" height=\"8\" alt=\"\" title=\"Funding\" \/><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.greenenergyreporter.com\/wp-content\/themes\/v1\/img\/cat\/solar.png?resize=8%2C8\" width=\"8\" height=\"8\" alt=\"\" title=\"Solar\" \/><\/p>\n<p><a href=\"https:\/\/i0.wp.com\/greenenergyreporter.com\/wp-content\/uploads\/2010\/03\/solutia-logo.gif\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-6683\" title=\"solutia-logo\" src=\"https:\/\/i0.wp.com\/greenenergyreporter.com\/wp-content\/uploads\/2010\/03\/solutia-logo.gif?resize=228%2C150\" alt=\"\" width=\"228\" height=\"150\" \/><\/a>Specialty chemical company Solutia will pay \u20ac240 million in cash to purchase Etimex Solar GmbH, a maker of weather-proofing films for photovoltaic solar panels, <a href=\"http:\/\/investor.solutia.com\/phoenix.zhtml?c=88803&amp;p=irol-newsArticle&amp;ID=1396626&amp;highlight=\">according to a release from Solutia<\/a>.<\/p>\n<p>St. Louis-based Solutia is expanding its range of encapsulants for solar panels with the purchase of Etimex Solar, said Solutia\u2019s Chief Executive Officer Jeffry N. Quinn:<span id=\"more-6680\"><\/span><\/p>\n<blockquote>\n<p>Renewable energy is an acknowledged source of long-term growth that fits well with Solutia&#8217;s businesses, and the combination of EVA and PVB encapsulant manufacturing capabilities will result in access to additional opportunities.<\/p>\n<\/blockquote>\n<p>Etimex Solar, which is based in Dietenheim, Germany, is a subsidiary of Etimex Holding GmbH and is controlled by funds affiliated with private equity firm Alpha Gruppe.<\/p>\n<p>Alpha Gruppe purchased Etimex in 2006 for \u20ac170 million in 2006, Bloomberg reports.<\/p>\n<p>Solutia reported 2009 net income of $31 million.<\/p>\n<p>Solutia, which emerged from <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601130&amp;sid=aEoj4MLAG4FI\">more than four years of bankruptcy protection<\/a> in 2008, will make the puchase with cash from its balance sheet and additional debt, according to the release. Deutsche Bank Securities and Kirkland &amp; Ellis LLP were advisers for the transaction.<\/p>\n<p>Etimex Solar is a supplier of ethylene vinyl acetate encapsulants for photovoltaic panels, a product line that Solutia officials said will compplement their polyvinyl butyral encapsulants.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/GreenEnergyReporter\/~4\/EhKeUDS5bTA\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Specialty chemical company Solutia will pay \u20ac240 million in cash to purchase Etimex Solar GmbH, a maker of weather-proofing films for photovoltaic solar panels, according to a release from Solutia. St. Louis-based Solutia is expanding its range of encapsulants for solar panels with the purchase of Etimex Solar, said Solutia\u2019s Chief Executive Officer Jeffry N. [&hellip;]<\/p>\n","protected":false},"author":789,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4821],"tags":[],"class_list":["post-678488","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9NivD-2Qvm","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/678488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/users\/789"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/comments?post=678488"}],"version-history":[{"count":0,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/posts\/678488\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/media?parent=678488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/categories?post=678488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.com\/index\/wp-json\/wp\/v2\/tags?post=678488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}