ST. LOUIS — Solutia Inc. announced a definitive agreement to sell its polymer-modifiers business and related manufacturing facilities to Ferro Corp. The sale is expected to be completed late this summer.
The agreement calls for Ferro to acquire Solutia’s Santicizer brand of plasticizers, as well as Solutia’s Delaware River Plant in Bridgeport, NJ. Also included are manufacturing units at plants in Wales and Belgium. Approximately 200 Solutia employees would become employees of Ferro.
With annual sales of approximately $140 million, Solutia’s polymer-modifiers business includes specialty plasticizers and benzyl chloride, which are used in flooring systems, sealants, caulks, adhesives, and polymer systems. Ferro’s Polymer Additives business unit is a supplier of additives for plastics resins.
Cleveland-based Ferro is a manufacturer of coatings, colors, ceramics, plastics and chemicals.