Solutia Feasibility Study for Asia Pacific Resin Investment Nears Completion
ST. LOUIS and DUSSELDORF, Germany, Oct. 1 /PRNewswire/ — Solutia Inc. (NYSE: SOA) announced today that the company has engaged in a feasibility study to explore the potential addition of a polyvinyl butyral (PVB) resin plant in the Asia Pacific region. The results of the study are expected by the end of the year, and assuming positive results and pending approval, construction would begin soon thereafter.
According to Tim Wessel, President of Solutia’s Advanced Interlayers division, the expansion of resin production is necessary as Solutia continues to invest in the Saflex business. “Solutia continues to invest heavily in the high-growth Asia Pacific region. The possible increased capacity realized from the addition of a resin plant in the region would be used to meet the increasing demand for SaflexÂ® PVB sheet produced by our plant in Suzhou, China.”
Solutia’s Suzhou plant currently serves as a manufacturing site for the company’s world leading Saflex PVB interlayers for laminated glass. In April, Solutia announced the addition of a second PVB manufacturing line within the existing footprint of the Suzhou plant, featuring enhanced capabilities to serve the architectural, photovoltaic and automotive markets in China and the broader Asia Pacific region. The company also announced it will expand its Suzhou operations to include the production of VistasolarÂ® ethylene vinyl acetate (EVA) photovoltaic encapsulant. This second regional investment will include the construction of a new building capable of housing several new EVA production lines and will provide the infrastructure for additional future capacity. The lines will be capable of manufacturing 2.35m wide sheet with the first production line scheduled to be completed by June 2011.
“As the world’s leading supplier of PVB interlayer, we continue our 80 year commitment to serving the needs of our customers not only today, but for years to come,” said Eric Nichols, vice president for Solutia’s Advanced Interlayers division. “Our recent investments in the greater Asia Pacific region and across the world will ensure the stable supply of quality, high performance interlayer and encapsulant products the market has come to expect from the Saflex brand.”
Solutia manufactures PVB interlayers at Ghent, Belgium; Santo Toribio, Mexico; San Jose Dos Campos, Brazil; Springfield, Mass., USA; and Suzhou, China. It also operates a PVB finishing center in Singapore, and a distribution center and regional customer service center in Shanghai.
The company currently also manufactures EVA for solar applications in Dietenheim, Germany.
Solutia’s Saflex product is the most trusted name in PVB interlayer technology for laminated glazing, delivering outstanding performance and durability, backed by reliable and knowledgeable service. As a result, it is found in nearly 40 percent of laminated architectural and automotive glass worldwide. Saflex interlayers are also used to encapsulate thin film photovoltaic solar cells, providing outstanding processability and durability. The company recently acquired Etimex Solar GmbH, producer of VistasolarÂ® encapsulants, uniquely positioning Solutia’s Advanced Interlayers division as the sole provider of both major encapsulants (PVB and EVA) to the fast-growing photovoltaic industry.
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” 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.
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) polyvinyl butyral interlayers for glass lamination and for photovoltaic module encapsulation and Vistasolar(R) ethylene vinyl acetate films for photovoltaic module encapsulation; LLumar(R), Vista(TM), EnerLogic(TM), FormulaOne(TM), Gila(R), V-Kool(R), Huper Optik(R), Sun-X(R) and Nanolux(R) aftermarket performance films for automotive and architectural applications; Flexvue(TM) advanced film component solutions for solar and electronic technologies; and technical specialties products including Crystex(R) insoluble sulfur, Santoflex(R) PPD antidegradants, Therminol(R) heat transfer fluids and Skydrol(R) aviation hydraulic fluids. 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 3,400 employees in more than 50 worldwide locations. More information is available at http://www.solutia.com/ .
SOURCE Solutia Inc.