EX-99.1
2
ex99p1.txt
Exhibit 99.1
[SOLUTIA logo]
News
SOLUTIA INC.
575 Maryville Centre Drive
St. Louis, Missouri 63141
P.O. Box 66760
St. Louis, Missouri 63166-6760
FOR IMMEDIATE RELEASE
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MEDIA: Dan Jenkins (314) 674-8552
INVESTORS: Tim Spihlman (314) 674-5206
SOLUTIA COMPLETES SALE OF
PHARMACEUTICAL SERVICES BUSINESS
ST. LOUIS - AUGUST 23, 2006 - Solutia Inc. (OTCBB: SOLUQ) today announced
that its subsidiary, Solutia Europe SA/NV ("SESA"), has completed the sale
of its Pharmaceutical Services business, comprised principally of SESA's
subsidiary CarboGen Amcis AG. Dishman Pharmaceuticals and Chemicals Limited
and its subsidiaries have purchased 100 percent of the stock of CarboGen
Amcis AG, as well as certain other assets used in the Pharmaceutical
Services business, for approximately $74.5 million, subject to a working
capital adjustment.
The Pharmaceutical Services business (http://www.carbogen-amcis.com)
provides seamless drug development and commercialization services for leading
pharmaceutical and biotechnology companies. During the year 2005, the business
had sales of approximately 80 million Swiss francs. The Pharmaceutical
Services business has world-class research and development facilities at three
sites in Switzerland: Aarau, Bubendorf, and Neuland. All intellectual
property, patents and trademarks, customer contracts, as well as employees of
the Pharmaceutical Services business are included in the transaction.
Dishman Pharmaceuticals and Chemicals Limited
(http://www.dishmangroup.com) is a globally focused company involved in the
manufacture of APIs (active pharmaceutical ingredients), API intermediates,
quaternary compounds and fine chemicals. Headquartered in Ahmedabad, India,
Dishman has exports spanning all continents.
# # #
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 described in Solutia's most recent Annual Report on Form
10-K, under "Cautionary Statement About Forward-Looking Statements", Solutia's
quarterly reports on Form 10-Q, and in filings with the U.S. Bankruptcy Court
in connection with the Chapter 11 case of Solutia Inc. and 14 of its U.S.
subsidiaries. These reports and filings can be accessed through the
"Reorganization" and "Investors" sections 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 (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;
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.
ST. LOUIS
8/23/06
2

EX - 99 . 1 2 ex99p1 . txt Exhibit 99 . 1 [ SOLUTIA logo ] News SOLUTIA INC . 575 Maryville Centre Drive St . Louis , Missouri 63141 P.O. Box 66760 St . Louis , Missouri 63166 - 6760 FOR IMMEDIATE RELEASE ------------------------------------------------------------------------------ MEDIA : Dan Jenkins ( 314 ) 674 - 8552 INVESTORS : Tim Spihlman ( 314 ) 674 - 5206 SOLUTIA COMPLETES SALE OF PHARMACEUTICAL SERVICES BUSINESS ST . LOUIS - AUGUST 23 , 2006 - Solutia Inc . ( OTCBB : SOLUQ ) today announced that its subsidiary , Solutia Europe SA / NV ( " SESA " ) , has completed the sale of its Pharmaceutical Services business , comprised principally of SESA 's subsidiary CarboGen Amcis AG . Dishman Pharmaceuticals and Chemicals Limited and its subsidiaries have purchased 100 percent of the stock of CarboGen Amcis AG , as well as certain other assets used in the Pharmaceutical Services business , for approximately $ 74.5 million , subject to a working capital adjustment . The Pharmaceutical Services business ( http://www.carbogen-amcis.com ) provides seamless drug development and commercialization services for leading pharmaceutical and biotechnology companies . During the year 2005 , the business had sales of approximately 80 million Swiss francs . The Pharmaceutical Services business has world - class research and development facilities at three sites in Switzerland : Aarau , Bubendorf , and Neuland . All intellectual property , patents and trademarks , customer contracts , as well as employees of the Pharmaceutical Services business are included in the transaction . Dishman Pharmaceuticals and Chemicals Limited ( http://www.dishmangroup.com ) is a globally focused company involved in the manufacture of APIs ( active pharmaceutical ingredients ) , API intermediates , quaternary compounds and fine chemicals . Headquartered in Ahmedabad , India , Dishman has exports spanning all continents . # # # 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 described in Solutia 's most recent Annual Report on Form 10 - K , under " Cautionary Statement About Forward - Looking Statements " , Solutia 's quarterly reports on Form 10 - Q , and in filings with the U . S . Bankruptcy Court in connection with the Chapter 11 case of Solutia Inc . and 14 of its U . S . subsidiaries . These reports and filings can be accessed through the " Reorganization " and " Investors " sections 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 ( 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 ; 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 . ST . LOUIS 8 / 23 / 06 2