Astaris LLC Announces Restructuring To Consolidate Production Capabilities and Focus on Value-Added Customer Solutions

Astaris LLC, a worldwide leader in phosphate technology solutions for food, industrial and institutional applications, announced today that its Board of Managers has approved a restructuring plan that will improve the operational and financial performance and strengthen the company's position as a value-added phosphate resource. The restructuring, which begins immediately, will optimize fixed costs through production asset rationalization and selective product rationalization. The plan will lessen the company's participation in the consumer sodium tripolyphosphate (STPP) market, and includes a reduction in STPP production capacity. The restructuring encompasses Astaris' North American operations only and no changes are planned for the company's South American and European operations.

"Since joining Astaris last December, the management team and I have worked to address key operational and strategic issues facing the company," said Paul L. Howes, president and chief executive officer. "Astaris, like the rest of the industry, has been confronted by an increasingly competitive environment, persistent weakness of the economy, worldwide overcapacity, and increasing volume of imported products. Astaris' improvements in capacity utilization, simplified logistics and greater coordination of services will improve our financial performance and competitive position. The restructuring will also enable Astaris to strengthen its focus on providing customers with value-added technical solutions. We believe that our new business plan will benefit our customers and the industry as a whole," said Howes.

The restructuring plan will be executed over the next nine months. Key elements include:

• Consolidation of the company's food and technical phosphate salts production into facilities located in St. Louis, Missouri; Carteret, New Jersey; and Lawrence, Kansas.
  
• Closure of its Conda, Idaho; Green River, Wyoming; and Trenton, Michigan facilities. Trans-loading, repackaging and warehousing operations in Bedford Park, Illinois will also be closed, however a Chicago, Illinois distribution terminal will be maintained.

"Astaris' success remains rooted in quality products and exceptional response. Our customer focus and technical abilities will continue to ensure that Astaris remains a market leader," said Howes.

About Astaris
Based in St. Louis, MO Astaris LLC is jointly owned by Solutia Inc. (NYSE: SOI) and FMC Corporation (NYSE: FMC) and provides phosphate technology solutions for food, industrial and institutional applications to customers worldwide.