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Thursday, February 28, 2008

Jubilation! Solutia Emerges From Bankruptcy

Jubilation originally uploaded by wwwmegancox.com.

I shared a taste for things to come in Exhilarated By [Solutia] Marketing! Today, I jubilantly share with you that the real deal is upon us...

We have emerged from our long bankruptcy journey!

Read the news for yourselves: Solutia Inc. Emerges From Chapter 11 as a Market-leading Specialty Chemicals Company With Global Leadership Positions in Each of Its Business Segments [or visit the Solutia reorganization site].

It's been a bit of a roller coaster ride. Especially lately.

We were supposed to emerge on January 25th, 2008 - but the unexpected happened [see Solutia Provides Update Regarding Chapter 11 Emergence and Exit Financing].

We took action [see Solutia Files Suit Against Citi, Goldman Sachs and Deutsche Bank]. Definitely the right move as it led to Solutia Gains Court Approval of Exit Financing; Will Emerge From Chapter 11 On February 28.

Tomorrow, Leap Day 2008, we will have our first global teleconference as the new company we've become. A celebration.

As much as this has been a business transformation process, bankruptcy is also very much a personal one. Ours has taken four years and a few months. Think of the transformational four-year journeys you've taken. What comes to mind? High school? College? I remember being a different person at the end of both compared to the person starting out. I always liked who came out better.

Same goes for this journey. I had joined the Wear-Dated carpet fiber group approximately four months prior to our entering into Chapter 11; the Acrilan fiber business I was leaving was in terrible disarray. It was soon to be shut down. Our successes there were no longer relevant. Luckily, I had a new home, but I had to reinvent myself for a new business, a new company, and a new world.

So, here I am... Blogger, marketer, writer and social media enthusiast. Thank you for being part of my journey and encouraging me along the way. I'm ready for life beyond bankruptcy.

We have emerged. Jubilation!

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