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Solutia Sells Nylon Business

St. Louis-based performance materials and specialty chemicals manufacturer Solutia Inc. plans to sell its nylon business to an affiliate of SK Capital Partners II LP, New York City, for $50 million in cash plus a 2-percent equity stake in the affiliate, as well as $4 million in deferred payments and a minimum level of working capital. The transaction includes employees, management and five manufacturing plants located in Texas, Alabama, Florida and South Carolina. Solutia expects the sale to close in the second quarter of 2009.

May/June 2009

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