Solutia, Inc. (SOI) Announces Sale of Perkalink® Business and Select Primary Accelerators Assets
11/8/2010 10:44:00 AM
ST LOUIS, Nov. 8, 2010 /PRNewswire-FirstCall/ -- Solutia Inc. (NYSE: SOA) announced today that it has sold its Perkalink® business and entered into a definitive agreement to sell select Primary Accelerators assets to LANXESS, a Germany-based specialty chemicals company.
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"The sale of the Perkalink business is yet another strategic step forward in focusing Solutia's Flexsys® portfolio on the manufacture and supply of high-value, global market-leading rubber chemicals," said Greta Senn, president and general manager of Solutia's Technical Specialties division. "In addition, our ability to sell select assets of Solutia's discontinued Primary Accelerators business allows us to maximize the value of those assets as we exit the business."
Solutia's Technical Specialties division offers advanced chemical and specialty products that meet or exceed rigorous specifications and are distributed through a reliable, global supply system. As one of the world's largest producers of chemicals for the rubber and tire industry, Flexsys products help control the process of manufacturing rubber, while improving its durability, flexibility and appearance. The Perkalink business represented less than 1% of Solutia's consolidated sales in 2009. For more information on Solutia and its diverse portfolio of product solutions, please visit www.solutia.com .
Notes to Editor: Solutia, Flexsys and the Infinity Logo® and all other trademarks listed below are trademarks of Solutia Inc. and/or its affiliates.
Forward Looking Statements
This press release may contain forward-looking statements, which can be identified by the use of words such as "believes," "expects," "may," "will," "intends," "plans," "estimates" or "anticipates," or other comparable terminology, or by discussions of strategy, plans or intentions. These statements are based on management's current expectations and assumptions about the industries in which Solutia operates. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, those risk and uncertainties described in Solutia's most recent Annual Report on Form 10-K, including under "Cautionary Statement About Forward Looking Statements" and "Risk Factors", and Solutia's quarterly reports on Form 10-Q. These reports can be accessed through the "Investors" section of Solutia's website at www.solutia.com. Solutia disclaims any intent or obligation to update or revise any forward-looking statements in response to new information, unforeseen events, changed circumstances or any other occurrence.
Solutia is a market-leading performance materials and specialty chemicals company. The company focuses on providing solutions for a better life through a range of products, including: Saflex® polyvinyl butyral interlayers for glass lamination and for photovoltaic module encapsulation and VISTASOLAR® ethylene vinyl acetate films for photovoltaic module encapsulation; LLumar®, Vista, EnerLogic, FormulaOne®, Gila®, V-KOOL®, Huper Optik®, IQue, Sun-X® and Nanolux® aftermarket performance films for automotive and architectural applications; Flexvue advanced film component solutions for solar and electronic technologies; and technical specialties products including Crystex® insoluble sulfur, Santoflex® PPD antidegradants, Therminol® heat transfer fluids and Skydrol® aviation hydraulic fluids. Solutia's businesses are world leaders in each of their market segments. With its headquarters in St. Louis, Missouri, USA, the company operates globally with approximately 3,400 employees in more than 50 worldwide locations. More information is available at www.Solutia.com .
SOURCE Solutia Inc.