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Report No. : |
308876 |
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Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SOLUTIA INC. |
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Registered Office : |
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Country : |
United State |
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Date of Incorporation : |
01.04.1997 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
The company’s Advanced Interlayers segment provides polyvinyl butyral (PVB)
sheet that is used in the manufacture of laminated glass for automotive and
architectural applications, and as an encapsulant in photovoltaic
applications |
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No. of Employees : |
3,400+ |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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United State |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED STATE - ECONOMIC OVERVIEW
The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment drops below 6.5% or inflation rises above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and reduce them further as conditions warranted; the Fed, however, would keep short-term rates near zero so long as unemployment and inflation had not crossed the previously stated thresholds. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
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Source
: CIA |
Company name: SOLUTIA
INC.
Address: 575 Maryville Centre
Drive, St Louis, MO 63141 - USA
Telephone: +1
314-674-1000
Fax: +1 314-674-1585
Website: www.solutia.com
Corporate ID#: 2735025
State: Delaware
Judicial form: Corporation – Profit
Date incorporated: April
1, 1997
Stock: 610,000,000
shares
Value: USD
0.01= par value
Name of manager: B.
Travis SMITH
Business:
Solutia Inc. and its subsidiaries manufacture performance materials and
specialty chemicals used in various consumer and industrial applications.
The company’s Advanced Interlayers segment provides polyvinyl butyral
(PVB) sheet that is used in the manufacture of laminated glass for automotive
and architectural applications, and as an encapsulant in photovoltaic
applications primarily under the SAFLEX name; ethyl vinyl acetate films under
the VISTASOLAR name for photovoltaic module encapsulation; and specialty
intermediate PVB resin and plasticizer products under the BUTVAR name.
Its Performance Films segment manufactures solar control, decorative,
safety and security window films for aftermarket automotive and architectural
applications under the LLUMAR, V-KOOL, HÜPER OPTIK, VISTA, GILA, and FORMULA
ONE HIGH PERFORMANCE AUTOMOTIVE TINT names; and advanced film components that
are used in electronics and energy industrial products under the FLEXVUE name.
The company’s Technical Specialties segment manufactures and sells
chemicals for the rubber, solar energy, process manufacturing, and aviation
industries. This segment offers insoluble sulfur under the CRYSTEX name; and
antidegradants, which are used in pneumatic tire components, solid tires,
belts, hoses, cables, automotive mounts, bushings, and general mechanical
products under the SANTOFLEX name. This segment also provides heat transfer
fluids that are used for indirect heating or cooling of chemical processes in
various types of industrial equipment and in solar energy power systems under
the THERMINOL name; and aviation hydraulic fluids for airline airframe
manufacturers and aviation maintenance facilities under the SKYDROL name.
The company sells its products to end users in various industries through
distributors and franchisees, as well as through its sales force in the United
States, Europe, the Asia Pacific, and internationally.
Solutia Inc. was founded in 1901 and is headquartered in St. Louis,
Missouri. As of July 2, 2012, Solutia Inc. operates as a subsidiary of Eastman
Chemical Co.
Eastman Chemical Co. purchased the Company for USD 4.8 billion.
Office of the Foreign
Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC
which lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
No name of foreign suppliers available.
EIN: 43-1781797
Staff: 3,400+
Operations & branches:
At the headquarters, we
find a large factory, warehouse and office, owned.
Shareholders:
Eastman Chemical Co.
200 South Wilcox Drive
Kingsport, TN 37662
United States
Eastman Chemical Company, a specialty chemical company, engages in the
manufacture and sale of chemicals, plastics, and fibers in the United States
and internationally.
Revenue 2014: USD 9,527,000,000=
Net profit: USD 751,000,000=
Management:
B. Travis SMITH is the President.
Michael A. BERRY, Eric NICHOLS, Vince McMULLIN, Michael J.3 HUMBY, Vice
Presidents.
Mary D. HALL, Treasurer
David A. WOODMANSEE, Secretary
Subsidiaries
And partnership:
|
CPFilms Inc. |
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100 |
% |
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Delaware |
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Flexsys America L.P. |
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100 |
% |
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Delaware |
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Flexsys Chemicals (M) Sdn Bhd |
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100 |
% |
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Malaysia |
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Flexsys Coordination Centre SA/NV |
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100 |
% |
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Belgium |
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Flexsys Holding B.V. |
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100 |
% |
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Netherlands |
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Flexsys SA/NV |
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100 |
% |
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Belgium |
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Flexsys Verkauf GmbH |
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100 |
% |
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Germany |
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Flexsys Verwaltungs- und Beteiligungsgesellschaft GmbH |
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100 |
% |
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Germany |
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Monchem International, Inc. |
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100 |
% |
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Delaware |
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Solchem Netherlands C.V. |
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100 |
% |
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Netherlands |
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Solutia Brasil Ltda. |
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100 |
% |
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Brazil |
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Solutia Europe SPRL/BVBA |
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100 |
% |
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Belgium |
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Solutia Greater China, Inc. |
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100 |
% |
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Delaware |
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Solutia Performance Products Solutia, Ltd. |
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100 |
% |
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Mauritius |
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Solutia Performance Products (Suzhou) Co., Ltd. |
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100 |
% |
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China |
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Solutia Services International SCA/Comm.VA |
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100 |
% |
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Belgium |
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Solutia Solar GmbH |
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100 |
% |
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Germany |
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Solutia Therminol Co., Ltd., Suzhou |
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60 |
% |
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China |
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Solutia U.K. Limited |
|
100 |
% |
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South Wales |
The Company was listed with
the NYSE held and delisted on 07-16-2012.
In United States, privately
held corporations are not required to publish any financials.
On a direct call, nobody
accepted to answer our questions.
We sent a fax but no answer
received.
However, sales estimate for
fiscal year ending September 2013 is in the range of USD 2.5 billion verse USD
2.3 billion in 2012 and 2.097 billion in 2011.
The business is profitable.
Banks: Citibank
JPMorgan Chase Bank
...
Legal filings
& complaints:
As of today date, there are several legal filing pending with various
Courts, involving the Company as plaintiff or defendant.
Secured debts summary (UCC):
Several