Solutia Begins Design of New Saflex(R) PVB Plant in China
Tuesday April 12, 7:00 pm ET
State-of-the-Art Capacity Being Designed to Meet Growing Demand of Chinese Auto Industry; Build Upon Solutia's Position as the World's Leading PVB Interlayer Supplier
ST. LOUIS and SHANGHAI, China, April 13 /PRNewswire-FirstCall/ -- At the opening of the China Glass exhibition, Solutia Inc. the world leader in the production and sale of polyvinyl butyral (PVB) interlayers, today announced it has begun the design and engineering of a new Saflex PVB interlayer plant in China. Upon the successful completion of the design and engineering phase, the company would begin the construction phase, targeting a mid-2007 startup. The plant is being designed to meet the growing demands of the Chinese automotive market by manufacturing PVB interlayers for use in windscreens.
"The China plant is a critical component of the global growth strategy for Solutia's Laminated Glazing Interlayers (LGI) business," said Mitch Pulwer, General Manager, LGI, Solutia Inc. "We are dedicated to meeting the growing needs of our customers worldwide, and to building capacity in line with market demand. This announcement reflects our commitment to providing customers in China with an on-the-ground source of the world's premier PVB interlayers. We will continue to invest in all world areas as both technology and capacity needs arise."
The new Solutia plant is being designed for location in an industrial community such as the greater Shanghai area, building upon Solutia's current LGI presence in the Asia-Pacific region. Solutia began expanding this presence in 1998 with 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.
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.
For more information about Solutia's LGI products, visit: http://www.solutiaautomotive.com , http://www.saflex.com and http://www.vanceva.com .
Forward Looking Statement
This press release contains forward-looking statements. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from the future results, performance or achievements expressed or implied by the forward looking statements. Assumptions and other important factors that could cause our actual results to differ materially from those anticipated in our forward-looking statements include, among other things: (i) the ability of Solutia to develop, prosecute, confirm and consummate one or more Chapter 11 plans of reorganization; (ii) the potential adverse impact of the Chapter 11 filing on Solutia's operations, management and employees, and the risks associated with operating businesses under Chapter 11 protection; (iii) the ability of Solutia to comply with the terms of the DIP financing facility; (iv) world economic conditions, competitive pressures, gain or loss of significant customers, labor relations and disruption of operations, raw material and energy costs, currency and interest rate fluctuations, success in implementing pricing actions and managing spending, operating rates, cost of debt, environmental compliance and remediation and other factors; (v) customer response to the Chapter 11 filing; and (vi) the risk factors or uncertainties listed from time to time in Solutia's filings with the Securities and Exchange Commission and with the U.S. Bankruptcy Court in connection with the Company's Chapter 11 filing. Other factors and assumptions not identified above are also relevant to the forward-looking statements, and if they prove incorrect, could also cause actual results to differ materially from those projected.
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; 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.
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