Solutia Reaches Settlement in Lawsuit With FMC Corporation
Monday April 2, 5:47 pm ET
ST. LOUIS , April 2, 2007 (PRIME NEWSWIRE) -- Solutia Inc., a leading manufacturer and provider of interlayers for laminated glass, aftermarket window films, specialty chemicals and an integrated family of nylon products, today announced it has reached a settlement in the matter of Solutia Inc. v. FMC Corporation, a lawsuit filed by Solutia in October 2003 relating to the companies' former joint venture known as Astaris. Under the terms of the settlement, FMC will pay Solutia $22.5 million in cash, and both parties will release each other from all claims related to this case. The settlement is subject to authorization by the bankruptcy court overseeing Solutia's reorganization. A more complete description of this litigation is contained in Solutia's most recent Annual Report on Form 10-K.
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; 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. Solutia ... Solutions for a Better Life.
Source: Solutia Inc.
Engineering News Archive