Solutia Inc., North American performance materials and specialty chemical manufacturer, recently announced that based on its performance through February, the company is confirming its FY 2009 adjusted EBITDA guidance from continuing operations of US$325 mln - US$$350 mln. Solutia also expects its FY 2009 total cash from operations less capital expenditures guidance of US$25 mln - US$75 mln. Jeffry N. Quinn, chairman, president and CEO of Solutia Inc. said, "Overall, we are encouraged by the performance of our businesses so far in 2009. Revenue and adjusted EBITDA for the first two months met the company's expectations, with February results showing sequential improvement over January, despite fewer shipping days. For continuing operations, our pricing philosophy and aggressive cost mitigation actions have allowed us to hold margins despite the slower demand environment." Further, the company is also keenly considering strategic alternatives for the Nylon business with a number of parties to divest the business by the end of Q1 2009.
09-Mar-09 
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