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Solutia history
Solutia company history timeline
The company was formed on September 1, 1997, as a divestiture of the Monsanto Company chemical business.
In general his 30-month plan proceeded smoothly and ahead of schedule, but by June 1998 Potter was frustrated by the company's lagging stock price.
In April 1999 Potter stepped down as CEO, replaced by John Hunter, the 30-month plan essentially completed a year ahead of schedule.
In April 1999 it made its first deal, the $200 million purchase of CPFilms, Inc. a leading maker of window film and other high-tech film products used in the automotive and construction industries.
In early 1999 he considered a merger with Eastman Chemical and Cytec Industries, but Solutia's low-priced stock made it a poor currency and the deals were ultimately scuttled.
As Solutia entered 2000, its management team was becoming increasingly frustrated with the performance of its stock, which was selling at just seven times earnings.
In early 2002, however, litigation involving the decades-old manufacture of PCBs in Anniston, Alabama, would have a debilitating effect on the company's stock.
Solutia filed for bankruptcy on December 17, 2003, in response to significant litigation surrounding various products, unsustainable debt structure, and a downturn in the economy.
Solutia emerged from bankruptcy on February 28, 2008.
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Solutia competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Albemarle | 1994 | $5.4B | 5,900 | 44 |
| Hexion | 1899 | $2.5B | 4,300 | 28 |
| Cytec Industries | 1993 | $1.9B | 3,601 | - |
| The Dow Chemical Company | 1897 | $43.0B | 54,000 | 190 |
| Ashland | 1924 | $2.2B | 6,500 | 45 |
| FMC | 1883 | $4.2B | 6,500 | 11 |
| Church & Dwight Co. | 1846 | $6.1B | 4,700 | 62 |
| Celanese | 1918 | $10.3B | 7,714 | 71 |
| O-I Glass | 1929 | $6.5B | 25,000 | 29 |
| Nucor | 1940 | $30.7B | 26,001 | 411 |
Solutia history FAQs
Zippia gives an in-depth look into the details of Solutia, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Solutia. The employee data is based on information from people who have self-reported their past or current employments at Solutia. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Solutia. The data presented on this page does not represent the view of Solutia and its employees or that of Zippia.
Solutia may also be known as or be related to SOLUTIA INC, Solutia, Solutia Inc and Solutia Inc.