ST. LOUIS, June 21, 2006 (PRIMEZONE) -- Focusing on two of its key growth businesses, Solutia Inc. (OTCBB:SOLUQ) today announced it is increasing manufacturing capacity for its polyamide 66 resins and compounds (PA66) at its Pensacola, Fla., plant, the world's largest integrated PA66 manufacturing facility. The move will allow the company to respond to the significant increase in demand throughout the world, especially in China.
Solutia will increase the annual production capacity of its Vydyne and Ascend PA66 products by 32,000 metric tons (70 million pounds), beginning in the third quarter of this year. This is the first in a series of capacity expansions that will continue in 2007 and 2008.
"This significant capacity expansion demonstrates Solutia's commitment to PA66 markets, and to meeting the emerging needs of our Vydyne and Ascend customers around the globe, particularly in the Asian region," says Nadim Qureshi, general manager, Nylon Plastics and Polymers, Solutia Inc. "Our customers recognize the value of our high-quality PA66 products and their consistent performance, and this increase will help ensure we continue to meet their supply needs."
To accomplish this series of capacity increases, Solutia is reconfiguring existing assets at its Pensacola plant. The plant's large scale and integrated structure make it the most efficient location for PA66 capacity expansion.
"By utilizing existing manufacturing resources, our plant is able to quickly implement production increases. We have developed a plan which allows us several further expansions, all at very competitive economics," said Craig Ivey, Pensacola plant manager. "Vydyne and Ascend are key brands within the Solutia family, and we're proud to participate in their growth."
Vydyne PA66 resins are used primarily in injection molding and extrusion applications in the automotive, consumer, electrical/electronic, and industrial markets. Ascend PA66 polymers are used primarily in the textile, carpet, and industrial fiber markets. For more information, please visit http://www.vydyne.com or http://www.ascendnylon.com.
Note to Editor: Vydyne and Ascend are registered trademarks of Solutia Inc.
About Solutia
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; process development and scale-up services for pharmaceutical fine chemicals; specialties such as water treatment chemicals, 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
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 described in Solutia's most recent Annual Report on Form 10-K, under "Cautionary Statement About Forward-Looking Statements," 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 and filings can be accessed through the "Reorganization" and "Investors" sections 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.