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ST. LOUIS and SHANGHAI -- Solutia Inc. (OTC Bulletin Board:
SOLUQ), the world leader in the production and sale of polyvinyl butyral (PVB)
interlayers, announced it is beginning the construction of a new Saflex PVB interlayer
plant in China. The company anticipates beginning production at the plant in mid-2007.
Solutia made the decision to construct the plant following
the completion of a design and engineering study that began in the spring of 2005.
The company has selected a construction site in Suzhou, providing ready access
to the burgeoning Shanghai automotive industry. The plant will focus on meeting
the growing demands of the Chinese automotive market by manufacturing PVB interlayers
for use in windscreens. It also will be ideally located to supply other markets
in Asia, further improving the business' ability to meet rising customer needs
for Solutia PVB interlayers across the broader Asia-Pacific region. In
addition to the forthcoming Suzhou plant, Solutia's LGI presence in the Asia-Pacific
region includes a finishing center, distribution center and regional customer
service center in Singapore. These investments have been instrumental in establishing
the high level of logistical support and customer service necessary to meet growing
Asian demand. "This project demonstrates our commitment to a market that
will be very important to our future growth and our focus on being a competitive
supplier on a global basis," says Jeffry N. Quinn, president and CEO, Solutia
Inc. Solutia is the global leader in PVB interlayer innovation,
quality and reliability. When laminated between layers of glass, PVB interlayers
greatly enhance the performance characteristics of glass, providing benefits such
as security, solar protection, sound attenuation, safety and style. Laminated
glass made with Saflex PVB is used in applications for automobiles and buildings.
In addition to Saflex, Solutia manufactures Vanceva® high-performance interlayers,
providing customers the world's most innovative portfolio of laminated glass interlayers. Corporate
Profile Solutia 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. 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. 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.
Source: Solutia |