ST. LOUIS (May 4, 2011)—The restructuring of the Flexsys business is essentially complete, according to parent company Solutia Inc.
"We are done with the promised reshaping of that portion [Flexsys] of our portfolio," Jeff Quinn, Solutia's chairman, president and CEO said at an analyst conference. "During the quarter, since we completed the promised reshaping of the other rubber chemical businesses by selling our DTC and Santoweb and Vocol businesses, these businesses combined would have accounted for about $40 million of revenue, last year with EBITDA about $7 million."
He said what remains left in the other rubber chemicals businesses is about $15 million in revenue. Essentially the remaining rubber chemicals business is the Crystex insoluble sulfur business and the Santofles accelerator activity.
Quinn did not say if the company wants to divest these activities.