Solutia announces the acquisition of Novomatrix

Deal expands Solutia's reach in key emerging regions through Novomatrix's presence in Southeast Asia.

Solutia Inc. announced that it has acquired Novomatrix, a firm involved in branding, marketing and the distribution of high-technology performance window films catering to the premium segment of the automotive aftermarket and architectural applications for residential, commercial and industrial properties. The acquisition of Singapore-based Novomatrix from MAFLP Investments Limited and Globamatrix Holdings for $73 million was financed through existing cash and did not require additional third-party financing, according to a Solutia release.

In addition to expanding Solutia's reach through Novomatrix's well-established presence in Southeast Asia and the Middle East, the acquisition will also complement Solutia's presence in Northern Asia. Integration of Novomatrix also provides an additional talented employee base in the region; ensuring continuation of Solutia's high-performance culture in this important market. Solutia's manufacturing capabilities, processing expertise, technology resources and strong dealer and distribution networks will benefit the Novomatrix brands.

Adding the Novomatrix portfolio of high-end brands to Solutia's existing Performance Films division further enhances Solutia's position as a global supplier of aftermarket window film. Novomatrix has a number of leading value-priced, premium and ultra-premium brands, including V-Kool® and Huper Optik®, expanding Solutia's range of product offerings and enhancing the company's ability to secure projects that specify certain performance characteristics.

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