ERJ staff report (DS)
St Louis, Missouri -- Solutia Inc. said the US Bankruptcy Court for the Southern District of New York has confirmed its plan of reorganisation.
"While this has been a long process, we have used our time in Chapter 11 to truly transform and revitalise Solutia. We will emerge from Chapter 11 as a growing, vibrant company that is positioned for success," said Jeffry Quinn, chairman, president and CEO, Solutia Inc.
The company said it anticipates that the plan of reorganization will become effective in the late December or January timeframe.
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Press release from Solutia