Jury Renders Verdict in Fluor v. Solutia Case

Date: 17 September 2002
Source: Solutia

Date: 17 September 2002

A jury in Houston today rendered a verdict against Solutia Inc. (NYSE: SOI) in the Fluor v. Solutia case.

This case involves a dispute between Fluor and Solutia over contractual obligations during the construction of Solutia's acrylonitrile manufacturing facility in Alvin, Texas, for which Fluor was the main contractor.The jury handed down two alternative verdicts based on two mutually exclusive theories. The verdict on the theory of breach of contract was for $4.85 million and the verdict on the theory of quantum meruit was for $34.505 million. Quantum meruit is a legal theory typically applicable to situations without a contract. No judgment has been entered on the verdict. Solutia intends to vigorously pursue all post-verdict remedies.

Solutia is disappointed with the verdict handed down in court today and does not believe the facts of the case justify the verdict. The subject of the lawsuit is the impact of changes made during construction of the facility. Solutia feels it has fairly compensated Fluor for changes on the project.

600450 Jury Renders Verdict in Fluor v. Solutia Case glassonweb.com

See more news about:

Others also read

MORE...

PPG Names Wulfsohn to European Post
William A. Wulfsohn, vice president and general manager of Nylon System for Honeywell International, has been named vice president of European coatings for PPG Industries (NYSE:PPG) and managing director of PPG Europe. "Bill will play a vital role in helping our European coatings businesses achieve their full potential," said Michael A.
Apogee Q3 results up on architectural glass activities
Apogee Enterprises Inc. reported level sales but an increase in earnings for the third quarter of its fiscal 2003. Bloomington-based Apogee, which makes glass products and services, said the earnings increase was mainly the result of improvements in its architectural glass business.
Bystronic acquires Armatec Vierhaus GmbH
Bystronic is to take over Armatec Vierhaus GmbH with effect from 1 January 2003. For Bystronic, a global supplier of system solutions for the manufacture of architectural and automotive glass, the takeover of Armatec, which specialises in laminated safety glass and handling systems, ideally complements the Bystronic portfolio.
Pilkington: New home for butterflies
The butterflies at Melbourne Zoo have gone upmarket with a new accommodation wing featuring Pilkington glass.
Owens-Brockway Glass Container Closes on Sale of Additional $175 Million Principal of 8-3/4% Senior Secured Notes
Owens-Brockway Glass Container Inc., an indirect wholly-owned subsidiary of Owens-Illinois, Inc., (NYSE: OI) announced today that is has closed on the sale of $175 million principal amount of its 8-3/4% Senior Secured Notes due November 15, 2012.
UCB Acquires Solutia'a Resins, Additives and Adhesives for $500 Million
UCB reached an agreement with Solutia to acquire Solutia's Resins, Additives & Adhesives activity for $500 million, plus a $10 million exclusivity fee.

Add new comment