トップページ

Solutia

Solutia was founded in St. Louis in 1901 as Monsanto Company. For decades, chemicals were the foundation of Monsanto, which eventually expanded beyond its original identity as a local producer of saccharin to become one of the world's leading chemical companies by the 1960s.

Solutia was created as an independent company on September 1, 1997, after Monsanto shareholders approved the spin-off of the company's chemical businesses. Today, Solutia is a specialty chemicals company with a growth-oriented business strategy that drives our commitment to excellent customer service. A true global enterprise, Solutia has more than $3 billion in annual sales, $4 billion in assets and more than 10,000 employees located at 35 manufacturing sites throughout 13 countries.

Solutia is a major producer for:

• Laminated glass and aftermarket applications
• Resins and additives for high-value coatings
• Specialties such as heat transfer fluids, aviation hydraulic fluids, environmentally friendly cleaning solvents for aviation
• An integrated family of nylon products, including high-performance polymers and fibers
• Process development and scale-up services for pharmaceutical fine chemicals

July 31, 2001 Solutia, JLM発表

SOLUTIA AND JLM INDUSTRIES, INC. END BENZENE TO PHENOL COMMERCIAL AGREEMENT
　　http://www.jlmi.com/pressreleases/073101.html

Solutia Inc. today announced a mutual agreement with JLM Industries, Inc. to end the commercial agreement to establish a new benzene to phenol plant. The site, which would have used Solutia's AlphOx BtoP technology, was to have been located at Solutia's Pensacola, Florida, facility.

"Solutia started up a new phenol to KA oil facility at Pensacola earlier this year," said Mike Berezo, director of Nylon Intermediates at Solutia. "And we may certainly decide to explore benzene to phenol production in the future, should the market dynamics change."

PENSACOLA INTEGRATED NYLON 6,6 PLANT, FLORIDA, USA 　

　　http://www.plastics-technology.com/projects/pensacola/

In 1998 Solutia Inc. approved plans to expand its nylon polymerisation capacity at the company's plant site in Pensacola in Florida in the United States.

THE NYLON 6,6 EXPANSION
In 1998, Solutia agreed to a joint venture with JLM Industries Inc. to build a phenol facility at the Pensacola plant. Phenol is used as an ingredient in the manufacture of nylon.

The enhanced plant benefits from Solutia's technological innovations. Much of the initial work on the Pensacoula plant's technology was done at Russia's Boreskov Institute of Catalysis (BIC), although it has been refined by Solutia. The new process involves fewer steps than its predecessors do. It also has lower costs, mainly because it is able to produce adipic acid less expensively. No acetone by-products result from this process.

TECHNOLOGICAL DEVELOPMENT FOR NYLON
In 1998, Solutia and Dow Plastics signed an agreement over sales and marketing. Under the terms of this agreement, Solutia continues to develop and manufacture nylon, while Dow has taken over the compounding and marketing.

2003/12/18

米国のソルーシアは17日、日本の会社更生法に当たる連邦破産法１１条申請を行ったと発表した。
ソルーシアは1997年に当時のモンサントの化学品部門がスピンオフしたが、その際に引き継いだ法的債務（訴訟費用・賠償金、環境対策費用、退職者医療費債務等）で毎年1億ドル程度を支払い、これが負担となっていた。本年8月には旧モンサントがアラバマ州で健康への危険を隠蔽しながら、河川に危険な化学薬品を投棄したとの住民訴訟に対し総額６億ドルの和解が行われ、ソルーシアはそのうち５千万ドルを負担している。
１１条申請は、コストダウン等による対応が限界にきたとして、これらの負担を免れるために行ったもので、業務は引き続き継続する。  

なおモンサントはその後ファーマシア＆アップジョンと合併しファーマシアとなり、2003年にファイザーの子会社になった。なお農薬部門は再度モンサントとしてスピンオフされている。

2003/12/17 Solutia

Seeking Relief from Former Monsanto Company Legacy Liabilities, Solutia Files Voluntary Petition for Chapter 11 Reorganization
　　Worldwide Operations Continue Without Interruption
　　Company Obtains Commitment for $500 million in Debtor-in-Possession Financing
　　　http://www.solutia.com/fir/reorganization/doc141Solutia%20-%20Ch.%2011%20Release.pdf

Solutia Inc. (NYSE:SOI), a leading manufacturer and provider of performance films, specialty chemicals and an integrated family of nylon products, announced today that it and 14 of its U.S. subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. Solutia's affiliates outside the United States were not included in the Chapter 11 filing. Solutia has approximately 6,700 employees worldwide.

The decision to file was made to obtain relief from the negative impact on the Company caused by legacy liabilities, which include litigation and settlement costs, environmental remediation and Monsanto retiree healthcare obligations, Solutia was required to assume when the Company was spun-off from the former Monsanto Company, which is now known as Pharmacia, a wholly owned subsidiary of Pfizer. These legal liabilities have been an obstacle to Solutia's financial stability and success. Under the U.S. Bankruptcy Code, these liabilities will be discharged as pre-petition liabilities pursuant to a plan of reorganization.

Alabama PCB litigation

---

2003/8/20 Solutia Inc.

Solutia Reports Settlement of Alabama PCB Litigation; $600 Million Cash Settlement and Community Outreach Programs
　　http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=SOI&script=410&layout=-6&item_id=442488

Solutia Inc. (NYSE: SOI) today announced a settlement resolving the Abernathy and Tolbert PCB litigation against the Company in Alabama.

The settlement, which includes no admissions of wrongdoing, will be funded by Solutia, Monsanto Co. and Pharmacia, a wholly-owned subsidiary of Pfizer and the companies' commercial insurers. It resolves all outstanding claims including potential punitive damages that might have been sought by plaintiffs and their lawyers. Solutia's portion of the settlement will be $50 million paid in equal installments over a period of 10 years.

RubberWorld 2005/1/26

Solutia to Exit Acrylic Fibers Business

Solutia Inc. announced Tuesday that it will exit the acrylic fibers business, pending approval by the U.S. Bankruptcy Court. The company's plant in Decatur, Ala., will continue to operate as a producer of chemical intermediates for use in nylon products, but will close its acrylic fiber operation in early-to-mid April. This action will impact approximately 250 Solutia employees and 200 contractors, most of whom work at the Decatur plant.

2006/6/21 Solutia Inc.

Solutia to Increase Polyamide 66 Resins Manufacturing Capacity

Focusing on two of its key growth businesses, Solutia Inc. 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.

British Plastics & Rubber　2006/12/17

Solutia to take control of Flexsys rubber chemicals　ゴム薬品ビジネス

Solutia is planning to buy out its partner in rubber chemicals producer Flexsys. Flexys is a 50:50 joint venture between Solutia and Akzo Nobel and says it is the world's leading supplier of chemicals to the rubber industry. It had sales last year of around $600 million and employs more than 1,000 people worldwide. Flexys is based in Brussels, Belgium, and has 15 manufacturing plants - eight in Europe, three in North America, two in South America and two in Asia. Also included in the deal - which has reached the agreement-in-principle stage - is that Solutia should buy Akzo Nobel's toll manufacturing operation for Flexsys at its Kashima site in Japan.

http://www.flexsys.com/i

St. Louis Business Journal - June 7, 2005

Monsanto agrees on Solutia bankruptcy exit plan

Bankrupt Solutia has reached an agreement with its unsecured creditors' committee and Monsanto that could take the company out of bankruptcy protection, the companies said Tuesday.

The plan calls for Monsanto to provide $250 million in funding to offset Solutia's liabilities.

Chemical company Solutia Inc. filed for Chapter 11 bankruptcy protection in 2003. Solutia was formed in 1997 when Pharmacia Corp., formerly known as Monsanto, spun it off. Present-day Monsanto Co. was established by Pharmacia in 2000, and it agreed to indemnify Pharmacia for certain liabilities assumed by Solutia at its spinoff. Pharmacia Corp. is now a subsidiary of Pfizer Inc.

The liabilities Solutia assumed when it was spun off included retiree benefit obligations, environmental remediation and litigation.

The St. Louis-based firms and unsecured creditors reached an agreement in principle that calls for an infusion of $250 million into Solutia through a rights offering to unsecured creditors, who could buy up to 22.7 percent of Solutia's common stock. Monsanto would exercise the remaining rights up to $250 million in exchange for up to 52.5 percent equity.

Solutia said $150 million of the proceeds from the offering will be used to satisfy liabilities for pre-spinoff retiree benefits, $50 million or environmental remediation and the remaining $50 million to satisfy liabilities at its discretion.

Monsanto and Solutia would each manage designated environmental remediation programs, and an advisory board would oversee shared sites.

The reorganized Solutia would continue as an independent, publicly traded company, Solutia said. Solutia said it would file the plan in bankruptcy court later this summer. The plan is subject to court approval.

Monsanto Co. develops insect- and herbicide-resistant crops and other agricultural products.

2007/9/28 CCR

Solutia Expands Presence in China

On September 21, 2007, Solutia Inc. celebrated the grand opening of its new plant in Suzhou, China. The plant is a manufacturing site for the company's Saflex business. Saflex is the world's leading producer and seller of polyvinyl butyral (PVB) interlayers 中間層. The Suzhou plant site is ideally suited for future expansion of Saflex and for other Solutia businesses.
The plant has been developed as a full-scale facility that currently produces Saflex interlayer for the automotive market, with room for future capacity to serve the architectural market as well. The current manufacturing line is designed to produce approximately 10 million square meters of Saflex interlayer per year, with space for further expansion as market growth requires more capacity.

2007/11/29

Court Confirms Solutia Plan of Reorganization

Solutia Inc., a leading manufacturer and provider of high-performance specialty materials and chemicals, today announced that the U.S. Bankruptcy Court for the Southern District of New York has confirmed its plan of reorganization.

"While this has been a long process, we have used our time in Chapter 11 to truly transform and revitalize Solutia - shaping a strong portfolio of businesses, shedding $1.3 billion in liabilities, and growing the company by $1 billion in sales while more than doubling our earnings. We will emerge from Chapter 11 as a growing, vibrant company that is positioned for success," said Jeffry N. Quinn, chairman, president and CEO, Solutia Inc.

Quinn added, "We are pleased to have gained confirmation of a plan of reorganization that was supported by all of the major constituents in our case and that provides for significant creditor recoveries."

The company anticipates that the plan of reorganization will become effective in the late December or January timeframe.

Solutia Poised to Emerge From Bankruptcy After Reaching Settlement With All Major Constituents in Chapter 11 Case

2008/2/28 Solutia

Solutia Inc. emerges from Chapter 11 as a market-leading specialty chemicals company with global leadership positions in each of its business segments

Solutia Inc. today emerged from Chapter 11 reorganization. "Solutia has emerged as a well-positioned specialty chemicals and performance materials company with market-leading global positions and a diverse portfolio of high potential businesses," said Jeffry N. Quinn, chairman, president and chief executive officer. "We believe we are a stronger, healthier and more competitive company than at any point in our history. Over the past four years, we have transformed our portfolio through strategic acquisitions, internal investments, asset dispositions, and the re-deployment of significant nylon assets to higher-value uses."

May 19, 2008 　Solutia

Solutia Breaks Ground at Plant in Springfield, Mass., for Expansion of PVB Resin Manufacturing Operations
　　Global Tightness in Supply and Growth in Demand Drive Expansion Projects Throughout the Saflex Business

Saflex(R), a unit of Solutia Inc., will break ground today for an expansion of its PVB resin manufacturing operations at its plant in Springfield, Mass., USA. The expansion will add 12,000 metric tons of annual capacity, which is planned to come on-stream in early 2009.

ポリビニルブチラール

The Springfield plant was the industry pioneer in the development and production of plastic interlayers for laminated glass, which it began more than 80 years ago. Today it hosts Solutia's largest Saflex manufacturing site in North America, playing a critical role in serving Saflex customers around the world. The Springfield plant also is home to the Technical Center for Solutia's Saflex and Specialty Fluids businesses.

In addition to the PVB resin expansion project in Springfield, Saflex announced earlier this month that it will expand its PVB resin manufacturing facilities in Antwerp, Belgium, adding 15,000 metric tons of annual capacity that is planned to come on-stream in 2010. The additional resin capacity at Antwerp will feed the new Saflex PVB sheet extrusion line in Ghent, Belgium, which will start up later in 2008 and will create 40 million square meters of new capacity once it ramps up to full production.

In addition to the Springfield, Antwerp, and Ghent projects noted above, Solutia has recently constructed a new Saflex PVB sheet production facility in Suzhou, China, and added capability at its Saflex PVB sheet production facility in Santo Toribio, Mexico.

Saflex, a business unit of Solutia Inc., is the world’s largest manufacturer of polyvinyl butryal (PVB) interlayer for laminated glass. Saflex interlayer strengthens laminated glass in homes, buildings and automobiles. This innovative glass interlayer is tough, resilient and versatile. Used in commercial and residential applications, Saflex interlayer provides solutions for almost every glazing challenge and offers a variety of benefits ranging from hurricane resistance to UV protection.

・ Manufacturing locations: Trenton, Mich., and Springfield, Mass., United States; Ghent, Belgium; Sao Paulo, Brazil; Singapore; Santo Toribio, Mexico; Suzhou, China

Jun 30, 2008 Solutia 　

Solutia Retains HSBC to Explore Strategic Alternatives for Its Nylon Business

2005/9　CEOインタビュー

ナイロンについては、「ソルーシアの重要な一部を構成する事業で、財務面への貢献も大きい」と判断しているが、「原料やエネルギー価格などに左右されやすく、景気循環の影響を受けやすい」ことから、これまで収益基盤の強化に取り組んできた。競合メーカーに比べても収益性は高いとしているが、将来については「あらゆる選択肢に対してオープン」とし、事業の価値を最大化する運営方法を選択する意向だ。

2009/4/1 Solutia　

Solutia Agrees to Sell Nylon Business
　　Divestiture Will Complete Transformation to Specialties Portfolio

Solutia Inc. today announced it has entered into a definitive agreement to sell its nylon business to an affiliate of SK Capital Partners II, L.P., a New York-based private equity firm that is focused on the chemical, material and health care sectors. At the closing of the sale, Solutia will receive $50 million in cash and a two percent equity stake in a new company formed to hold substantially all of the assets of the nylon business. Solutia will also receive $4 million in deferred cash payments to be paid in annual $1 million installments beginning in 2011. The agreement includes a minimum level of working capital to be delivered at closing, which is approximately $100 million lower than the actual reported balance at the end of 2008 and approximately $25 million lower than the expected balance at the end of the first quarter. The affiliate of SK Capital will assume substantially all of the liabilities of the nylon business, including employee and pension liabilities relating to the active employees of the business, and environmental liabilities. Solutia will use the nylon sale proceeds to pay down debt under its asset-based revolving credit facility.
In addition, SK Capital will secure replacement of $25 million of letters of credit associated with the nylon business, which will result in increased availability for Solutia under its credit agreements.

---

August 2009 Specialty Fabrics Review

Solutia Inc. becomes Ascend Performance Materials

SK Capital Partners, an investment firm based in New York City and Boca Raton, Fla., has added Solutia Inc.’s integrated nylon chemical, plastic and fiber business to its portfolio. The business has been re-named Ascend Performance Materials, and will be led by former American Standard chairman and CEO Frederic Poses. Solutia/Ascend had $1.8 billion in revenues in 2008. SK Capital Partners has special investment expertise in the areas of specialty materials, specialty chemicals and healthcare.

March 1, 2010

Solutia Announces Agreement to Acquire Etimex Solar
Uniquely positions Solutia as a global provider of both major encapsulants to the fast-growing photovoltaics industry

Solutia Inc. today announced that it has reached a definitive agreement to purchase Etimex Solar GmbH, a wholly owned subsidiary of Etimex Holding GmbH, which is controlled by funds affiliated with Alpha Gruppe. The purchase price of euro 240 million in cash is expected to be financed from existing cash on the balance sheet and additional debt. Etimex Solar is a leading supplier of ethylene vinyl acetate (EVA) encapsulants to the photovoltaic market. The acquisition is a significant step in Solutia's plan to strategically grow its specialty chemicals and performance materials portfolio by enhancing its current businesses.

封止樹脂としてはEVA、PVBシートが使用されている。ＥＶＡの透明性、柔軟性、接着性、引張強度、耐候性が生かされた用途だが、太陽光を常時浴びるという過酷な環境であるため、架橋剤、紫外線吸収剤、接着補助剤等が配合されるのが一般的。

Combining EVA with its existing polyvinyl butyral (PVB) encapsulant capabilities positions Solutia as the world's only one-stop source for solar encapsulant solutions. This will enable Solutia to better meet customer needs by providing the broadest product offering in the industry. In addition, Saflex's processing expertise, global commercial capabilities, and technology resources will enable rapid expansion in the photovoltaic market. Additional immediate benefits include:

* Diversification and expansion of end markets
* Enhancement of Solutia's already strong EBITDA margins
* Enhancement of Solutia's position as a leading components supplier to the high-growth renewable energy sector
* Product development and commercial synergies

"This acquisition is a solid step forward that strengthens our core competencies, expands our end markets and supports Solutia's growth strategy," said Jeffry N. Quinn, chairman, president and chief executive officer of Solutia Inc. "Renewable energy is an acknowledged source of long-term growth that fits well with Solutia's businesses, and the combination of EVA and PVB encapsulant manufacturing capabilities will result in access to additional opportunities. I am extremely excited about Etimex Solar and the role it will play in Solutia's future success."

Etimex's VistaSolar(R) products, manufactured in Dietenheim, Germany, offer ultra fast curing EVA films as well as new thermoplastic polyurethane (TPU) films which do not require the necessity of curing. This business reported 2009 net income of $31 million and 2009 EBITDA of approximately $34 million. This transaction is expected to close during the second quarter of 2010, contingent upon customary closing conditions, including receipt of governmental approvals. Deutsche Bank Securities Inc. and Kirkland & Ellis LLP acted as advisors on this transaction.