ST. LOUIS, July 11, 2008 (PRIME NEWSWIRE) -- Solutia Inc. (NYSE:SOA) has announced a global price increase of up to 30% for its full line of Skydrol aviation hydraulic fluids. This increase will vary by product, packaging, world area and currency of sale, and applies to orders shipped on or after July 26, 2008, for all non-contract customers and where contracts allow.
"Solutia remains committed to offering the highest quality aviation fluid products, supported by unparalleled technical and customer service, that offer the best total value to our customers," said Dale Kline, global commercial director, Specialty Fluids, Solutia Inc. "As a recognized leader in aviation hydraulic fluids for 60 years, Solutia has an obligation to continue to invest in new fluid development and improvements in manufacturing efficiency and capability in order to meet the ever-changing needs of the commercial aviation industry. In addition, given the continued escalation in the cost of energy and raw materials, price increases such as those announced are also unavoidable.
"We are also changing Incoterms from CPT (delivered) to FCA (freight collect or freight pre-paid and add), in Anniston, AL. Given the unprecedented increase in transportation and distribution costs we are experiencing, this change in Incoterms is necessary at this time."
Solutia is a world leader in aviation hydraulic fluids, providing 60 years of excellence in technical support, customer service, performance and innovation. For more information on Skydrol, call 1-800-426-2463, visit www.skydrol.com or send a request on company letterhead to Solutia Inc., Skydrol -3S, P.O. Box 66760, St. Louis, Missouri, 63166, USA.
Note to Editor: Skydrol is a registered trademark of Solutia Inc.
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. Solutia makes no assurances that any transaction will be completed. 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.
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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