St. Louis (PRIME NEWSWIRE) - Solutia Inc. (NYSE:SOA) today announced that its Flexsys subsidiary is seeking to expand its Crystex(r) insoluble sulfur manufacturing capacity in the Asia-Pacific region and is currently evaluating sites to determine the most suitable location. Flexsys presently has seven plants worldwide that produce Crystex insoluble sulfur, including facilities in Kuantan, Malaysia, and Kashima, Japan.
"Flexsys is strengthening its commitment to the Asia-Pacific region. The Asian market, specifically China and India, continues to be an important and rapidly growing market for Flexsys," said Jim Voss, president of Flexsys and senior vice president of Solutia Inc. "Expanding in the Asia-Pacific region demonstrates our strong commitment to our customers to provide more localized service, support, and delivery of our products." He added, "We will continue to invest in capacity expansions and new technology to provide our customers with the innovative products that they have come to expect from Flexsys."
Global demand for tyres continues to rise around the world. It is estimated that by 2010, global annual tyre production will reach 1.7 billion, up from 1.4 billion in 2005. Asia has become an increasingly important center for tyre production based on strong local demand and as an exporter to other world areas. Most of that growth in Asia comes from China and India.
"We want to help our customers seize the enormous opportunity in this region," said Tim Wessel, vice president of Crystex and Antidegradants, Flexsys. "We are seeing increased demand for our Crystex HD (High Dispersion) grade of insoluble sulfur. In order to meet the long-term needs of our customers, we will be investing in additional capacity."
Crystex insoluble sulfur is the vulcanizing agent of choice for critical applications in the tyre industry, providing the highest level of quality and performance. In addition, Crystex HD insoluble sulfur offers tyre manufacturers improved productivity and safety in their manufacturing processes.
Flexsys products play an essential role in the manufacturing of tyres 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 over $650 million, about two-thirds of which take place outside the United States.
NOTE TO EDITORS: Flexsys and Crystex are registered trademarks of Solutia Inc. and/or its subsidiaries.
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," "estimated," 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 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.
Corporate Profile
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.
The Solutia Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2620
-0-
CONTACT: Solutia Inc.
Media:
Melissa Hammonds
(314) 674-5555
Customers:
Tim Wessel
(314) 674-1174
Investors:
Susannah Livingston
(314) 674-8914
"Flexsys is strengthening its commitment to the Asia-Pacific region. The Asian market, specifically China and India, continues to be an important and rapidly growing market for Flexsys," said Jim Voss, president of Flexsys and senior vice president of Solutia Inc. "Expanding in the Asia-Pacific region demonstrates our strong commitment to our customers to provide more localized service, support, and delivery of our products." He added, "We will continue to invest in capacity expansions and new technology to provide our customers with the innovative products that they have come to expect from Flexsys."
Global demand for tyres continues to rise around the world. It is estimated that by 2010, global annual tyre production will reach 1.7 billion, up from 1.4 billion in 2005. Asia has become an increasingly important center for tyre production based on strong local demand and as an exporter to other world areas. Most of that growth in Asia comes from China and India.
"We want to help our customers seize the enormous opportunity in this region," said Tim Wessel, vice president of Crystex and Antidegradants, Flexsys. "We are seeing increased demand for our Crystex HD (High Dispersion) grade of insoluble sulfur. In order to meet the long-term needs of our customers, we will be investing in additional capacity."
Crystex insoluble sulfur is the vulcanizing agent of choice for critical applications in the tyre industry, providing the highest level of quality and performance. In addition, Crystex HD insoluble sulfur offers tyre manufacturers improved productivity and safety in their manufacturing processes.
Flexsys products play an essential role in the manufacturing of tyres 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 over $650 million, about two-thirds of which take place outside the United States.
NOTE TO EDITORS: Flexsys and Crystex are registered trademarks of Solutia Inc. and/or its subsidiaries.
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," "estimated," 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 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.
Corporate Profile
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.
The Solutia Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2620
-0-
CONTACT: Solutia Inc.
Media:
Melissa Hammonds
(314) 674-5555
Customers:
Tim Wessel
(314) 674-1174
Investors:
Susannah Livingston
(314) 674-8914
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