ERJ staff report (DS)
St Louis, Minnesota - Solutia, Jiangsu Sinorgchem Technology Co., Ltd. ("Sinorgchem"), and Korea Kumho Petrochemical Co., Ltd. ("KKPC") have finally agreed to resolve all disputes among them involving manufacturing processes for 4-ADPA, a chemical intermediate used to make rubber antidegradants.
The dispute has lasted since 2004, and absorbed vast amounts of management time. Under the settlement, Sinorgchem and KKPC will manufacture 4-ADPA under licence from Solutia. Financial terms of the settlement were not disclosed. The relevant Solutia patents expire in 2019.
Stephen Choi, chief executive officer of Sinorgchem, commented, "We are happy this issue is resolved and the dispute is behind us. As a leading rubber additives producer, we will continue to use technology to provide our customers with greener chemicals."
"The settlement of these long-standing disputes is a milestone for Solutia and its Santoflex antidegradant business," said Rich Altice, president and general manager of Solutia's Technical Specialties division. "We remain committed to using our innovative chemistry to provide value to our customers and shareholders, as well as to protecting our intellectual property rights."
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Press release from Sinorgchem