ST. LOUIS - Solutia Inc. has completed the acquisition of Vianova Resins from Morgan Grenfell Private Equity Ltd. for about 1.2 billion Deutschmarks (DM), or approximately $640 million U.S. Solutia said the acquisition positions it as a leader in the worldwide market for coatings raw materials in the automotive, industrial and specialty sectors.

Solutia said it will combine its existing coatings materials business with Vianova Resins to create a "full-service supplier to coatings customers worldwide." Approximately 85% of Vianova Resins' sales are in Europe, where the company markets alkyd, amino, acrylic, UV-cure, epoxy, and powder-coatings resins. Other products include polyurethane emulsions and dispersing, and rheology-control additives.

Solutia's current coatings products, marketed primarily in the United States, include amino crosslinkers for thermoset surface coatings, flow and leveling agents, solvents, and binding resins. Solutia operates plants in North and South America, Europe, and Asia.