Solutia Sees Business Opportunity In Tornado Aftermath
Specialty chemical maker Solutia hopes to sell more laminated window glass and other energy-efficient products in the aftermath of deadly U.S. Midwest tornado, its chief executive said.
The company is headquartered in St. Louis, Mo., where the city's Lambert International Airport closed briefly late last month after a tornado ripped off part of the roof and shattered windows.
"They certainly could have benefited from having a lot of Solutia's glass, because they got a lot of glass breakages associated with the wind," Chief Executive Jeffry Quinn told Reuters. "Solutia's (polyvinyl butyral) products would have prevented the shattering effect they would have had with a lot of the tempered glass."
The company's polyvinyl butyral materials are used as layers inside window glass.
Solutia posted a better-than-expected quarterly profit on Monday, though revenue fell short of Wall Street's forecast. Solutia's shares were down 3.4% at $25.37 in afternoon trading. The stock has gained 40.2% in the past 52 weeks.
The Japanese disasters have not affected Solutia's sales of Crystex, said Quinn, referring to an insoluble sulfur used for replacement tire and rubber parts.
"We're seeing extraordinary demand levels for Crystex in Asia," Quinn said.
