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SOA Stonemartin

7.50
0.00 (0.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Stonemartin LSE:SOA London Ordinary Share GB0009136580 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 7.50 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Solutia's Therminol(R) 55 Heat Transfer Fluid Selected for Major Tank Terminal Expansion in Louisiana

12/11/2009 2:00pm

PR Newswire (US)


Stonemartin (LSE:SOA)
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ST. LOUIS, Nov. 12 /PRNewswire-FirstCall/ -- Solutia Inc. (NYSE:SOA) announced today that International Matex Tank Terminals (IMTT) in St. Rose, Louisiana has selected Solutia's Therminol® 55 synthetic heat transfer fluid for use in its 2009 major expansion project. Therminol has been used at this plant for over 30 years with the first system installed in the early 1970's. Over the last 30+ years, the site has gone through numerous expansions and this is just the latest and largest expansion project in the steady growth of IMTT in St. Rose. IMTT is a 50 year old privately held company that is a world-class provider of bulk liquid handling services. (Logo: http://www.newscom.com/cgi-bin/prnh/20081029/AQW096LOGO ) "Solutia has been a longstanding, reliable supplier to IMTT in St. Rose and we have always been very pleased with the level of technical service and support that we have received," said Mr. Rene Ockman, Director of Support Services, IMTT. He added, "Therminol 55 has always met our expectations. We realize that there are other suppliers out there, however, with Solutia's track record of exceptional performance and proven technical services for over 30 years, we are confident that Therminol 55 will work well and we will continue to experience smooth operation for many years to come." Therminol 55 heat transfer fluid will be used at the tank terminal to provide indirect heat to fifty-eight very large storage tanks containing materials such as asphalt, diesel fuel and other high melting point compounds that need to be kept warm in order to prevent them from solidifying. Premature or unplanned failures of the heat transfer fluid system in these terminals is not an option since doing so can result in long outages, costly downtime and unreliable operation. "The synthetic chemistry of Therminol 55 gives it an advantage over other fluids such as conventional mineral oils since it is much more resistant to the effects of oxidation and has outstanding thermal stability. Combine the performance of Therminol 55 with the no-cost value-added services that the Therminol technical service team provides such as on-site technical training, design assistance, system troubleshooting, sample analysis services, 24/7 toll free technical and customer service hotlines and fluid trade-in program(1), it is no surprise that tank terminals such as IMTT continue to put their faith in us," said Mr. James Fordonski, Global Asphalt Market Lead for Therminol heat transfer fluids. Mr. Richard Altice, Vice President of Commercial Services for Technical Specialties, Solutia Inc., added, "IMTT has been a valuable customer of Solutia and we are very pleased to continue to earn their business as they continue to grow." Solutia offers a worldwide network of product supply by manufacturing Therminol heat transfer fluid on four continents and offers an unmatched worldwide network of technically skilled Therminol heat transfer fluid specialists to provide expert service and support. Solutia is the world leader in synthetic heat transfer fluids, providing nearly 45 years of excellence in technical support, customer service, performance and innovation. For more information on Therminol heat transfer fluid in the U.S., please call +1-800-426-2463 or visit http://www.therminol.com/ . Notes to Editor: © 2009 Solutia Inc. All rights reserved. Solutia and the Infinity Logo®, Therminol®, CPFilms®, LLumar®, Flexsys® and Skydrol® are trademarks of Solutia Inc. As used herein, ® denotes registered trademark status in the U.S. only. (1) Trade-in program only available in North America Forward Looking Statements This press release may contain forward-looking statements, which can be identified by the use of words such as "believes," "expects," "may," "will," "intends," "plans," "estimates" or "anticipates," or other comparable terminology, or by discussions of strategy, plans or intentions. These statements are based on management's current expectations and assumptions about the industries in which Solutia operates and Solutia's ability to raise additional funds which is subject to market conditions. Forward-looking statements are not guarantees of future performance and are subject to significant risks and uncertainties that may cause actual results or achievements to be materially different from the future results or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, the risk and uncertainties regarding the consummation of the transactions described in this press release or the timing thereof, including the possibility that the conditions to consummating the transactions may not be satisfied or that the transactions may not close, and those other risks and uncertainties described in Solutia's most recent Annual Report on Form 10-K, including under "Cautionary Statement About Forward Looking Statements" and "Risk Factors", and Solutia's quarterly reports on Form 10-Q. These reports can be accessed through the "Investors" section of Solutia's website at http://www.solutia.com/. Solutia disclaims any intent or obligation to update or revise any forward-looking statements in response to new information, unforeseen events, changed circumstances or any other occurrence. About Solutia Inc. Solutia (NYSE:SOA) is a market-leading performance materials and specialty chemicals company. The company focuses on providing solutions for a better life through a range of products, including: Saflex® interlayer for laminated glass; CPFilms® aftermarket window films sold under the LLumar® brand and others; and technical specialties including the Flexsys® family of chemicals for the rubber industry, Skydrol® aviation hydraulic fluid and Therminol® heat transfer fluid. Solutia's businesses are world leaders in each of their market segments. With its headquarters in St. Louis, Missouri, USA, the company operates globally with approximately 3,100 employees in more than 60 locations. More information is available at http://www.solutia.com/ . About IMTT Inc International-Matex Tank Terminals is a world-class provider of bulk liquid handling services; it is a privately owned company characterized by: 1. The capability for quick response from direct owner involvement in management. 2. Dynamic growth in size and sophistication over five decades of operations. 3. Stable well-trained work-force. 4. Community involvement. 5. Strategic locations throughout North America. Complementary Businesses include: U.S. Strategic Petroleum Reserve, St. Rose Wholesale Nursery, Warehousing Support Services, Environmental Services. http://www.newscom.com/cgi-bin/prnh/20081029/AQW096LOGO http://photoarchive.ap.org/ DATASOURCE: Solutia Inc. CONTACT: Media, Emily Parenteau, USA, +1-314-674-3676, or Investors, Susannah Livingston, USA, +1-314-674-8914, both for Solutia Inc. Web Site: http://www.solutia.com/ http://www.therminol.com/

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