ST. LOUIS, July 19, 2007 (PRIME NEWSWIRE) -- Solutia Inc. (OTCBB:SOLUQ) today announced that its subsidiary, Flexsys SpA, has completed its acquisition of the rubber chemicals business of Chemetall GmbH. Flexsys and Chemetall signed the purchase and sale agreement prior to Solutia's May 2007 acquisition of Flexsys, and have completed the transaction now that German regulatory approval has been received. Chemetall's rubber chemicals business produces zinc dithiocarbamates (DTCs), a line of specialty chemicals used to speed up the rubber vulcanization process. Flexsys already produces DTCs and is therefore equipped to meet the needs of Chemetall's customers. No production assets were included in the acquisition.
"Solutia is committed to taking the strategic actions that will make Flexsys an even more successful business going forward," said Jim Voss, president of Solutia's Flexsys business. "We welcome Chemetall's DTC customers, and look forward to providing them with the high level of service and quality that have made Flexsys the world leader in rubber chemicals."
Flexsys products play an important role in the manufacture of tires and other rubber products, such as belts, hoses, seals and footwear. Flexsys is a global business with offices, manufacturing facilities and technology centers around the world. Flexsys has annual sales of approximately $600 million, about two-thirds of which take place outside the United States.
Corporate Profile
Solutia (http://www.solutia.com) uses world-class skills in applied chemistry to create value-added solutions for customers, whose products improve the lives of consumers every day. Solutia is a world leader in performance films for laminated safety glass and after-market applications; chemicals for the rubber industry; specialties such heat transfer fluids and aviation hydraulic fluid and an integrated family of nylon products including high-performance polymers and fibers.
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Forward-Looking Statements
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