Solutia’s Sales Up 14% in 3Q

St. Louis, Mo, November 9–Bankrupt chemical maker Solutia Inc. said in a regulatory filing Friday that price increases, higher sales volumes and favorable currency-exchange rates drove up third-quarter net sales by 14 percent over a year ago, according to the St. Louis Post-Dispatch.

The company had a one-time charge of $11 million in the quarter for a voluntary pension-fund contribution. It lost $7 million in repairs, maintenance and asset write-offs at plants in Florida, Alabama and Virginia that were hit by Hurricane Ivan and a tornado.

Solutia’s integrated nylon division boosted sales and prices, resulting in a 21 percent increase in quarterly net sales. The unit reported a $15 million net loss, however, largely due to high raw-material costs.

Strong sales of Saflex and Vanceva interlayer products for windows and glass drove up net sales in the company’s performance-films division by 5 percent. The unit had quarterly net earnings of $27 million.