Southwall Technologies (SWTX)

[MWM]

Solutia to Acquire Southwall Technologies Inc.

Creates powerhouse of world-class innovation, technology and commercial films expertise


Press Release Source: Solutia Inc.; Southwall Technologies Inc. On Friday October 7, 2011, 8:30 am

ST. LOUIS and PALO ALTO, Calif., Oct. 7, 2011 /PRNewswire/ -- Solutia Inc. (NYSE:SOA - News), a market-leading performance materials and specialty chemicals company, and Southwall Technologies Inc. (NASDAQ:SWTX - News), a leading innovator of energy-saving films and glass products for automotive and architectural markets, today announced that they have signed a definitive agreement providing for Solutia to acquire Southwall for $13.60 per share of Southwall common stock in cash. The transaction, which has been approved by the boards of directors of both companies, has an aggregate equity purchase price of approximately $113 million. The acquisition will be funded by Solutia from existing cash on hand.