ST. LOUIS, April 24, 2012 /PRNewswire/ -- Solutia Inc. (NYSE: SOA) was honored today by Frost & Sullivan with the 2012 New Product Innovation Award for Automotive Glazing Material for its Saflex® S series advanced solar absorbing polyvinyl butyral (PVB) interlayers. In addition to providing traditional safety benefits of automotive laminated glazing, Saflex S series effectively absorbs solar heat transmitted through the vehicle's glazing, which reduces air conditioning usage and improves vehicle fuel economy and CO2 emissions. Saflex S series solar absorbing interlayers are also available in an acoustic formulation, as offered in Saflex Q series interlayers for laminated glass. Frost & Sullivan determined Solutia has distinguished itself by developing an innovative, drop-in solution for automotive OEMs to utilize in meeting the growing challenge of increasing global fuel efficiency and CO2 emissions regulations. (Logo: http://photos.prnewswire.com/prnh/20081029/AQW096LOGO ) "Saflex S series' innovative formulation aids in the seamless operation of electronic devices while blocking more than 99 percent of UV rays and providing measurable heat reduction in the vehicle cabin, leading to a decreased need for air conditioning and, consequently, fuel requirements. These benefits translate to a unique and compelling value proposition for the automotive industry," said Frost & Sullivan Research Analyst Shree Vidhyaa Karunanidhi. Based on Frost & Sullivan's independent analysis of the North America automotive glazing market, it found that non-metallic Saflex S series enables smooth functioning of electronic devices within the automobile and blocks heat, which translates to lower air conditioning requirements, better fuel efficiency and lower CO2 emissions. It also blocks more than 99 percent of the ultraviolet radiation that is responsible for skin irritation in humans and fading of a vehicle's dashboard, steering wheel and leather seats. Saflex S series can be used for all types of vehicles. However, usage is particularly crucial in electric vehicles, as it can help increase the mile range of the vehicle, addressing a major concern of electric vehicle users. Saflex Q series solar, Solutia's acoustic interlayer, offers a twofold benefit by blocking heat while effectively decreasing noise that enters the vehicle through the glazing. "When Solutia launched Saflex S series and Saflex Q series solar interlayers in 2011, our goal was to provide a product that would bring value to both automotive OEMs and consumers," said Eric Nichols, president and general manager of Solutia's Advanced Interlayers division. "Solutia is proud to be recognized as the industry leader and continues to innovate, offering a comprehensive product portfolio for automotive glazing that offers trusted, best-in-class heat and acoustic reduction for the global automotive laminated glass industry." Frost & Sullivan is a global growth consulting company with more than 50 years of experience in partnering with Global 1000 companies. The Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating achievement and superior performance in areas such as industry leadership and innovation. Industry analysis compares market participants and measures performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
Solutia (NYSE:SOA) hit a new 52-week high Tuesday as it is currently trading at $28.23, above its previous 52-week high of $28.20 with two million shares traded as of 3:59 p.m. ET. Average volume has been 1.3 million shares over the past 30 days.
The ex-dividend date for Solutia (NYSE:SOA) is Monday, February 13, 2012. Owners of shares as of market close today will be eligible for a dividend of 4 cents per share. At a price of $27.95 as of 9:30 a.m., the dividend yield is 0.5%.