ST. LOUIS, April 4, 2011 /PRNewswire/ -- Solutia Inc. (NYSE: SOA), a market-leading performance materials and specialty chemicals company, announced today that it has sold its Santoweb® and Vocol® businesses to Rhein Chemie, a wholly-owned subsidiary of LANXESS AG, a German-based specialty chemicals company. Financial terms of the deal were not disclosed.
"Solutia continues to execute its strategy of focusing the Flexsys® portfolio on high-value, global market-leading rubber chemicals," said Greta Senn, president and general manager of Solutia's Technical Specialties division.
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.
Sales from the Santoweb and Vocol businesses represented less than 0.5% of Solutia's consolidated 2010 results. For more information on Solutia and its diverse portfolio of product solutions, please visit www.solutia.com .
Notes to Editor: SOLUTIA and the Radiance 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 3,300 employees in more than 50 worldwide locations. More information is available at www.Solutia.com .
About Rhein Chemie:
Rhein Chemie develops, produces and sells additives, specialty chemicals and service products for the rubber, lubricant and plastics industries. In fiscal year 2010 Rhein Chemie achieved sales of EUR 283 million and has approximately 1,000 employees worldwide. The company is headquartered in Mannheim, Germany and has production facilities in Europe, Asia and North and South America. Rhein Chemie is a wholly-owned subsidiary of the specialty chemicals group LANXESS, Leverkusen, Germany.
SOURCE Solutia Inc.