Solutia Inc., a manufacturer and provider of specialty chemicals and an integrated family of nylon products, has filed a Plan of Reorganisation and Disclosure Statement with the Bankruptcy Court for the Southern District of New York.

"While we still have much to do in order to complete this process, filing our Plan of Reorganisation takes us one significant step closer to successfully reorganising Solutia," said Jeffry N. Quinn, president and CEO. "This Plan of Reorganisation will enable Solutia to emerge from Chapter 11 later this year with an improved competitive position."

Solutia produces performance films for laminated safety glass and after-market applications; process development and scale-up services for pharmaceutical fine chemicals; specialties such as water treatment chemicals, heat transfer fluids and aviation hydraulic fluid and an integrated family of nylon products including high-performance polymers and fibres.