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Description:
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Solutia, Inc. together with its subsidiaries (Solutia) is a global manufacturer and marketer of a variety of high-performance, chemical-based materials, which are used in a range of consumer and industrial applications. Solutia has two segments: Performance Products and Services, and Integrated Nylon. The Performance Products and Services segment manufactures performance films for laminated safety glass and after-market applications and specialties, such as water treatment chemicals, heat transfer fluids and aviation hydraulic fluid. The Integrated Nylon segment consists of an integrated family of nylon products, including high-performance polymers and fibers. For the three months ended 31 March 2006, Solutia Inc.'s revenues decreased 5% to $700M. Net loss totaled $22M vs. an income of $21M. Revenues reflect lower sales volume, higher manufacturing costs and unfavourable currency exchange rate fluctuations. Net loss reflects lower gross margins, decreased operating income due to higher raw material costs, increased energy costs and higher interest expenses.
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