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Solutia posts $1 million profit for February
By Ellen Chang
Houston, March 16 - Solutia Inc. reported net income of $1 million for February on sales of $190 million for the company's businesses in Chapter 11, according to its monthly operating report filed Wednesday with the U.S. Bankruptcy Court for the Southern District of New York.
The Solutia Chapter 11 debtors had operating income of $2 million. Cash on Feb. 28 was $11 million.
Including the units not included in the Chapter 11 filing, Solutia had net income of $5 million on net sales of $233 million. Operating income was $11 million. Cash on Feb. 28 was $61 million.
Solutia, a St. Louis-based chemical company's filed for bankruptcy on Dec. 17, 2003. Its Chapter 11 case number is 03-17949.
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