US Solutia may be stuck with parts of nylon unit

30 October 2008 16:12  [Source: ICIS news]

HOUSTON (ICIS news)--US specialty chemicals producer Solutia may be stuck with parts of its nylon business that it had originally expected to sell in its entirety, the company said on Thursday.

Solutia is drafting alternative plans in case it cannot sell the entire unit, CEO Jeffry Quinn said in a conference call.

Either the sale or the alternative plans should be executed by the end of the first quarter of 2009, said Quinn.

If Solutia does not sell all of its nylon business, it would tighten and narrow the focus of whatever remains, Quinn said.

Such a plan would require Solutia to leave certain parts of the nylon chain, he added.

The result would be a nylon business that resembles Solutia's other segments, which are all concentrated in specialty chemicals, said Quinn.

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By: Al Greenwood
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