Solutia Inc celebrated the company“s successful reorganization under Chapter 11 and transformation into a market-leading specialty chemicals and performance materials company by ringing the New York …
Solutia Inc celebrated the company“s successful reorganization under Chapter 11 and transformation into a market-leading specialty chemicals and performance materials company by ringing the New York Stock Exchange (NYSE) opening bell on 17 March 2008. Jeffry N. Quinn, chairman, president and chief executive officer, James M. Sullivan, senior vice president and chief financial officer, as well as other members of Solutia management took part in the event. As a result of its combined financial and strategic restructuring, Solutia now has a more focused portfolio of businesses with long-term growth opportunities, as well as an improved balance sheet and solid financial fundamentals. Solutia“s new common stock began trading on the NYSE under the ticker symbol SOA on 3 March 2008. “Today Solutia is positioned as a financially viable, global leader in specialty chemicals and performance materials”, said Mr. Quinn. “The 6,000 men and women of Solutia have shown tremendous dedication and initiative as we have successfully reorganized the company and created opportunities for future success”.