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Solutia Sells Water Treatment Business to Thermphos

9:24 AM MDT | July 27, 2007 | Chemical Week Editorial Staff

Solutia says it has reached a definitive agreement to sell Dequest, its water treatment phosphonates business, to Thermphos Trading (Vlissingen, The Netherlands), a producer of phosphorus and phosphorous derivatives, for $67 million and subject to a working-capital adjustment. Solutia says it will continue operating the Dequest plant at Newport, Wales for Thermphos, under terms of the deal. The transaction is pending governmental and regulatory approval and must be authorized by the bankruptcy court overseeing Solutia’s reorganization. Solutia intends to...

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