Solutia reports Q2 results

ERJ staff report (DS)

St Louis, Missouri -- Solutia Inc has reported positive sales for the three months to June 2011.

The company reported net sales of $543 million; an 8 percent increase from the same period in 2010

Technical Specialties' second quarter 2011 net sales totaled $225 million, an increase of $8 million or 4 percent from the same period in 2010. Adjusted EBITDA decreased $2 million to $82 million for the second quarter of 2011 compared to the prior year period, with the modest reduction in Adjusted EBITDA attributed to the divestiture of other rubber chemicals businesses since the second quarter of 2010. Increased raw material costs and higher manufacturing costs were more than offset by increased selling prices, improved sales volumes and lower selling costs.

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Press release from Solutia