SOLUTIA Inc. (OTC:SOLUQ)
Industry: Basic Materials
Solutia, Inc. together with its subsidiaries (Solutia), incorporated in 1997, is a global manufacturer and marketer of a variety of high-performance, chemical-based materials, which are used in a range of consumer and industrial applications. Solutia has two segments: Performance Products and Services, and Integrated Nylon. The Performance Products and Services segment manufactures performance films for laminated safety glass and after-market applications and specialties, such as water treatment chemicals, heat transfer fluids and aviation hydraulic fluid. The Integrated Nylon segment consists of an integrated family of nylon products, including high-performance polymers and fibers. On December 17, 2003, Solutia and its 14 United States subsidiaries (the Debtors) filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The cases were consolidated for the purpose of joint administration. Solutia's subsidiaries outside the United States were not included in the Chapter 11 filing. On February 14, 2006, the Debtors filed with the Bankruptcy Court their Joint Plan of Reorganization and Disclosure Statement. Under the reorganization plan, Solutia would emerge from bankruptcy as an independent publicly held company. As of December 31, 2005, Solutia participated in one principal joint venture, Flexsys Group, comprised of interests in Flexsys Holding B.V., Flexsys America L.P. and Flexsys Rubber Chemicals Ltd. (Flexsys. Flexsys, headquartered in Brussels, Belgium, and jointly operated from Brussels and Akron, Ohio, is a joint venture between Solutia and Akzo Nobel N.V. (Akzo). Flexsys is a global supplier of a range of rubber processing chemicals to the rubber industry used in the production of tires and other general rubber products, such as automotive belts, hoses, bumpers and window seals and in mining, agriculture and oil refining applications. Its product line includes a number of performance-enhancing products, including branded accelerators (Santocure, Thiofide and Thiotax), pre-vulcanization inhibitors (Santogard PVI), antidegradants (Santoflex), antioxidants (Flectol) and insoluble sulphur (Crystex). Prior to November 4, 2005, Solutia participated in another joint venture, Astaris. Astaris was formed, in April 2000, as a joint venture between Solutia and FMC Corporation. Solutia and FMC each held 50% of the equity interests in Astaris Performance Products and Services Segment Solutia's Performance Products and Services segment comprises six product lines and one service business. The product lines are generally managed based on the markets into which these products are sold. Solutia's Saflex and Vanceva brands of plastic interlayer are used for laminated safety glass, primarily in automotive original equipment manufacturing and architectural applications. Solutia markets its plastic interlayer to the automotive industry for use in automobile windshields and side, rear and roof windows of vehicles. Solutia also brands plastic interlayer under the Keepsafe and Keepsafe Maximum marks for architectural applications. Solutia's Llumar, Vista, Gila and Formula One brands of window films are custom coated and used primarily for aftermarket automotive and architectural applications. Llumar and Vista window films are marketed to the professional aftermarket automotive and architectural applications, Gila is marketed to the do-it-yourself retail market and Formula One high-performance automotive films are marketed in the custom automotive market. Solutia's Dequest water treatment phosphonates are used to enhance water quality for industrial and domestic use. Solutia's Therminol heat transfer fluids are used in solar power systems and for indirect heating or cooling of chemical processes. Solutia's Skydrol brand aviation hydraulic fluids and Skykleen brand of aviation solvents are supplied across the aviation industry. Solutia's plastic products include entrance matting and automotive spray suppre
As Of: 10/07 00:00 ET
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