ST. LOUIS, Aug. 15, 2007 (PRIME NEWSWIRE) -- Solutia Inc. (OTCBB:SOLUQ) today announced that effective Oct. 1, 2007, or as soon as permitted by contract, its Flexsys(r) business is raising the price for Crystex(r) insoluble sulfur and Santoflex(r) 6PPD antiozonant. The amount of the increase varies by the currency of sale as follows:
USD/kg. USD/lb. Euro/kg. Yen/kg.
------- ------- -------- -------
Crystex HD $0.22 $0.10 0.13 N/A
All other grades of Crystex $0.26 $0.12 0.16 31
Santoflex 6PPD $0.30 $0.14 0.22 35
"We are implementing this price increase to offset significant, sustained increases in raw material and energy costs in recent years," said Jim Voss, president of Solutia's Flexsys business. "Our customers look to Flexsys to provide them with the highest-quality products, superior customer service and world-class technical support. We are committed to making continued investments in product development, capacity expansions and environmental stewardship projects to ensure we continue to meet our customers' expectations."
Crystex insoluble sulfur is the vulcanizing agent of choice for critical applications in the tire industry, providing the highest level of quality and performance. In addition, Crystex HD insoluble sulfur offers tire manufacturers improved productivity and safety in their manufacturing processes. Santoflex 6PPD antiozonant is used to improve tire longevity by protecting against degradation by oxygen, ozone and fatigue.
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.
Note to editor: Flexsys, Crystex, and Santoflex are registered trademarks of Solutia Inc.
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 as heat transfer fluids and aviation hydraulic fluid and an integrated family of nylon products including high-performance polymers and fibers.
Solutia ... Solutions for a Better Life.
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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 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.