-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SygbDmZWR11GtbVEI77ArADAuXwFSJNo/Ai8wj64+K2vW/orUEmCJDw663sbhNeP eNX/b7sYQZFpvUL3/gO8Xw== 0001068800-03-000707.txt : 20031205 0001068800-03-000707.hdr.sgml : 20031205 20031205100603 ACCESSION NUMBER: 0001068800-03-000707 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031202 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031205 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOLUTIA INC CENTRAL INDEX KEY: 0001043382 STANDARD INDUSTRIAL CLASSIFICATION: CHEMICALS & ALLIED PRODUCTS [2800] IRS NUMBER: 431781797 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13255 FILM NUMBER: 031039312 BUSINESS ADDRESS: STREET 1: 575 MARYVILLE CENTRE DRIVE STREET 2: P O BOX 66760 CITY: ST. LOUIS STATE: MO ZIP: 63166-6760 BUSINESS PHONE: 3146741000 MAIL ADDRESS: STREET 1: P O BOX 66760 CITY: ST. LOUIS STATE: MO ZIP: 63166-6760 FORMER COMPANY: FORMER CONFORMED NAME: QUEENY CHEMICAL CO DATE OF NAME CHANGE: 19970804 8-K 1 sol8k.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): DECEMBER 2, 2003 SOLUTIA INC. ------------ (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) DELAWARE -------- (STATE OF INCORPORATION) 001-13255 43-1781797 --------- ---------- (COMMISSION (IRS EMPLOYER FILE NUMBER) IDENTIFICATION NO.) 575 MARYVILLE CENTRE DRIVE, P.O. BOX 66760, ST. LOUIS, MISSOURI 63166-6760 - --------------------------------------------------------------- ---------- (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) (314) 674-1000 -------------- REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE ITEM 5. OTHER EVENTS. On December 2, 2003, Solutia issued a press release announcing that it had notified Monsanto and Pharmacia that it would not be making a $3 million payment to satisfy litigation settlements in two asbestos cases brought against Pharmacia. A copy of the press release is filed as an exhibit to this report and is incorporated here by reference. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. (c) Exhibit 99 listed below is filed as part of this report. Exhibit Number Description - -------------- ----------- 99 Press Release dated December 2, 2003, issued by Solutia Inc. announcing that it would not be making a $3 million payment to satisfy litigation settlements in two asbestos cases brought against Pharmacia. SIGNATURES PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED, THEREUNTO DULY AUTHORIZED. SOLUTIA INC. ------------------------------ (Registrant) /s/ Rosemary L. Klein ------------------------------ Assistant Secretary DATE: DECEMBER 5, 2003 EX-99 3 exh99.txt Exhibit 99 [SOLUTIA Letterhead] FOR IMMEDIATE RELEASE - ------------------------------------------------------------------------------ Contacts: Media - Glenn Ruskin - 703-282-7429 Financial - Marleen Judge - 314-674-7777 SOLUTIA REJECTS PHARMACIA SETTLEMENT COSTS OF TWO ASBESTOS CASES ST. LOUIS, Dec. 2, 2003/PRNewswire-FirstCall/ -- Solutia Inc. (NYSE: SOI) today notified Monsanto and Pharmacia that it would not be making a $3 million payment to satisfy litigation settlements in two asbestos cases brought against Pharmacia. Solutia's only obligation related to this litigation comes as a result of its contractual obligation to indemnify legacy liabilities of the old Monsanto chemical business which were assigned to Solutia at the time of Solutia's creation in 1997. Solutia has given notice to Monsanto and Pharmacia to enable them to make the required payments on their own behalf. When Solutia was spun off from Monsanto in 1997, Monsanto contractually obligated Solutia to bear the responsibility for hundreds of millions of dollars of legacy liabilities that accrued to Monsanto and its successor, Pharmacia, over a century of manufacturing, primarily in the areas of retiree benefits, environmental cleanup and litigation defense costs. In its 2003 third quarter 10-Q filing, Solutia disclosed that it must take action to reduce its current level of legacy liabilities, which currently cost Solutia approximately $100 million annually. Solutia has not advised Monsanto and Pharmacia that it will not honor any remaining legacy liabilities. In fact, Solutia continues to make other selected legacy liability payments. As individual legacy liability payments come due, Solutia will evaluate whether it is prudent for it to make those payments and will, in all cases where it determines to not make such payments, notify Monsanto and Pharmacia to enable them to pay their obligations. CORPORATE PROFILE Solutia (http://www.Solutia.com) uses world-class skills in applied chemistry to create value-added solutions for customers, whose products improve the lives of consumers every day. Solutia is a world leader in performance films for laminated safety glass and after-market applications; process development and scale-up services for pharmaceutical fine chemicals; specialties such as water treatment chemicals, heat transfer fluids and aviation hydraulic fluid and an integrated family of nylon products including high-performance polymers and fibers. Solutia ...Solutions For a Better Life. -oOo- Source: Solutia Inc. St. Louis Date 12/2/03 -----END PRIVACY-ENHANCED MESSAGE-----