ExxonMobil Chemical completes AES acquisition

HOUSTON (June 25)—ExxonMobil Chemical finalized the acquisition of Akron-based Advanced Elastomer Systems L.P., expanding the company's global ethylene elastomers portfolio. AES was formed in 1991 as a limited partnership between ExxonMobil Chemical and Solutia Inc. ExxonMobil announced plans early this year to acquire Solutia's 50 percent share of AES, after it was placed on the selling block last year. AES will determine the extent and pace of integration between the two firms, but for the immediate future customers will continue to be called on by the same sales representatives, a joint company statement said.