Solutia reaches settlement in lawsuit with FMC Corporation

Prime Newswire reports that Solutia Inc., a manufacturer and provider of interlayers for laminated glass, aftermarket window films, specialty chemicals and an integrated family of nylon products, announced it has reached a settlement in the matter of Solutia Inc. v. FMC Corporation, a lawsuit filed by Solutia in October 2003 relating to the companies'' former joint venture known as Astaris. Under the terms of the settlement, FMC will pay Solutia $22.5 million in cash, and both parties will release each other from all claims related to this case. The settlement is subject to authorization by the bankruptcy court overseeing Solutia''s reorganization.