ST. LOUIS, March 17, 2008 (PRIME NEWSWIRE) -- Solutia Inc. (NYSE:SOA) today announced that Jeffry N. Quinn, chairman, president and chief executive officer; James M. Sullivan, senior vice president and chief financial officer; and other members of Solutia management will ring the New York Stock Exchange (NYSE) opening bell on Monday, March 17, 2008. The bell ringing will celebrate the company's successful reorganization under Chapter 11 and transformation into a market-leading specialty chemicals and performance materials company.
As a result of its combined financial and strategic restructuring, Solutia now has a more focused portfolio of businesses with long-term growth opportunities, as well as an improved balance sheet and solid financial fundamentals. Solutia's new common stock began trading on the NYSE under the ticker symbol SOA on March 3, 2008.
"Today Solutia is positioned as a financially viable, global leader in specialty chemicals and performance materials," said Quinn. "The 6,000 men and women of Solutia have shown tremendous dedication and initiative as we have successfully reorganized the company and created opportunities for future success."
A live streaming video of the opening bell ceremony will become active at 9:25 a.m. EDT on Monday, March 17, and will be available via the following link: http://mfile.akamai.com/7096/live/reflector:57489.asx?bkup=59611&prop=n.
An archived video of the event will be available through the Solutia Web site, www.Solutia.com, or at http://mfile.akamai.com/7096/wmv/nyse.download.akami.com/7096/Obell-03172008.asx approximately two hours following the ceremony's conclusion.
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", Solutia's quarterly reports on Form 10-Q, and in filings with the U.S. Bankruptcy Court in connection with the Chapter 11 case of Solutia Inc. and 14 of its U.S. subsidiaries. These reports can be accessed through the "Investors" section of Solutia's website at www.solutia.com. The bankruptcy court filings can be accessed by visiting www.trumbullgroup.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.
About Solutia Inc.
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(r) interlayer for laminated glass; CPFilms(r) aftermarket window films sold under the LLumar(r) brand and others; high-performance nylon polymers and fibers sold under brands such as Vydyne(r) and Wear-Dated(r); and technical specialties including the Flexsys(r) family of chemicals for the rubber industry, Skydrol(r) aviation hydraulic fluid and Therminol(r) heat transfer fluid. 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 6,000 employees in more than 60 locations. More information is available at www.Solutia.com.
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