Solutia (SOA) To Discontinue Manufacturing at its Plant in Cologne, Germany
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Solutia Inc. (NYSE: SOA) announced it will discontinue manufacturing at its plant in Cologne, Germany, effective as soon as practical. Taminco N.V. will acquire certain assets and assume certain contracts and commercial obligations relating to the tetramethylthiuram disulfide (TMTD) and tetraethylthiuram disulfide (TETD) products. As a part of that transaction, Solutia will continue to produce TMTD and TETD at Cologne for Taminco during a transition period, which is expected to conclude by the end of the first quarter 2010. Solutia will continue to manufacture and provide Perkacit DPTT to customers.
"Due to the emergence of lower cost competition, the TMTD and TETD products manufactured by Solutia at Cologne are no longer competitive on a global scale," said Mike Donnelly, president and general manager, for Solutia's Technical Specialties business.
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"Due to the emergence of lower cost competition, the TMTD and TETD products manufactured by Solutia at Cologne are no longer competitive on a global scale," said Mike Donnelly, president and general manager, for Solutia's Technical Specialties business.
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