ST. LOUIS, Mo. (May 3) — Solutia Inc. has become the sole owner of rubber chemical supplier Flexsys by completing its purchase of Akzo Nobel NV´s 50-percent stake in the company.
The partners formed the joint venture in 1995, and announced in January that Akzo Nobel would sell its interest to Solutia. The purchase price wasn't disclosed.
Solutia said it named James Voss senior vice president and president of Flexsys. He previously served as Solutia senior vice president-business operations. Voss replaces Enrique Bolanos, who led Flexsys for the past eight years, but will remain active in the business and help with the transition of Flexsys into Solutia.
Flexsys employs about 600 and has annual sales of about $600 million, of which two-thirds are outside the U.S., Solutia said.