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Solutia to Explore Strategic Alternatives for Nylon Business
2:14 PM MDT | June 30, 2008 | Kate Phillips
Solutia says it has retained HSBC Securities to explore strategic options, including a potential sale, of the company’s nylon business. “Given the strength of our high-margin specialty chemical and performance materials businesses and the current industry dynamic in the nylon segment, it is an appropriate time to explore strategic alternatives available with respect to the nylon business,” says Jeffry N. Quinn, chairman, president and CEO of Solutia. First-quarter net sales for Solutia’s nylon business were up 10%, to $468 million...
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