ExxonMobil Chemical completes acquisition of Advanced Elastomer
ExxonMobil Chemical today announced it has finalized the acquisition of Advanced Elastomer Systems (AES), significantly expanding the company's global Ethylene Elastomers portfolio. Earlier this year, ExxonMobil announced plans to acquire Solutia Inc.'s 50 percent interest in AES.
AES is known worldwide for
excellence in thermoplastic vulcanizates (TPVs), products that
perform like rubber and process like plastic, offering customers
design options, cost reduction, and performance improvements.
The company brings its flagship
product Santoprene® TPV to
applications in automotive, construction, consumer goods,
electrical, food and beverage, plumbing and irrigation, and
medical markets throughout the world.
Solutia was founded in St. Louis in 1901 as Monsanto Company. For decades, chemicals were the foundation of Monsanto, which eventually expanded beyond its original identity as a local producer of saccharin to become one of the world's leading chemical companies by the 1960s.
Solutia was created as an independent company on September 1, 1997, after Monsanto shareholders approved the spin-off of the company's chemical businesses. Today, Solutia is a specialty chemicals company with a growth-oriented business strategy that drives our commitment to excellent customer service. A true global enterprise, Solutia has more than $3 billion in annual sales, $4 billion in assets and more than 10,000 employees located at 35 manufacturing sites throughout 13 countries.
Chemnet Tokyo 2002/9/13