Agreement to Purchase
2003年8月8日 - 10:41PM
RNSを含む英国規制内ニュース (英語)
RNS Number:4945O
Hercules Inc
08 August 2003
Release on Receipt
03-19-R
HERCULES ANNOUNCES AGREEMENT TO PURCHASE MERAKLON S.p.A.
WILMINGTON, DE, AUGUST 8, 2003 . . . Hercules Incorporated (NYSE: HPC) today
announced that it has reached agreement in principle to purchase Meraklon S.p.A.
for an undisclosed price. Meraklon is a closely held Italian-based polypropylene
fiber company with its principal offices and production facilities in Terni,
Italy, with 2002 sales of approximately 65 million Euro. The proposed
acquisition will be effected through Hercules' FiberVisions subsidiary in
Denmark.
Dr. William H. Joyce, Chairman and Chief Executive Officer of Hercules stated,
"This transaction reflects Hercules' commitment to the polyolefin fiber business
and affirms Hercules' strategy for growth through bolt-on acquisitions. With a
performance-based payment schedule, earnings will be accretive in 2004 and cash
flow positive after 12 months."
"The addition of Meraklon to the FiberVisions family will broaden our portfolio
of products, particularly in the industrial and technical fibers markets, expand
our capacity, and provide better access to the markets of southern Europe and
the Middle East," said Craig A. Rogerson, Vice President, Hercules, and
President, FiberVisions. "It will also offer security to both customers and
suppliers by providing a second major production site in Europe, in addition to
our operation in Varde, Denmark," Mr. Rogerson added.
A spokesman for the Meraklon shareholders stated that, "By this transaction, we
believe that the expertise and resources of FiberVisions will enhance the future
success of Meraklon to the benefit of all its constituents."
FiberVisions currently manufactures polyolefin fibers in Athens and Covington,
Georgia, Suzhou, China, as well as Varde, Denmark.
The transaction, which is subject to certain regulatory approval, is expected to
be completed in the fourth quarter of this year.
# # #
Hercules manufactures and markets chemical specialties globally for making a
variety of products for home, office and industrial markets. For more
information, visit the Hercules website at www.herc.com.
This news release includes forward-looking statements, as defined in the Private
Securities Litigation Reform Act of 1995, reflecting management's current
analysis and expectations, based on what management believes to be reasonable
assumptions. Forward-looking statements may involve known and unknown risks,
uncertainties and other factors, which may cause the actual results to differ
materially from those projected, stated or implied, depending on such factors
as: ability to generate cash, ability to raise capital, ability to refinance,
the result of the pursuit of strategic alternatives, ability to execute work
process redesign and reduce costs, business climate, business performance,
economic and competitive uncertainties, higher manufacturing costs, reduced
level of customer orders, changes in strategies, risks in developing new
products and technologies, environmental and safety regulations and clean-up
costs, foreign exchange rates, the impact of changes in the value of pension
fund assets and liabilities, changes in generally accepted accounting
principles, adverse legal and regulatory developments, including increases in
the number or financial exposures of claims, lawsuits, settlements or judgments,
or the inability to eliminate or reduce such financial exposures by collecting
indemnity payments from insurers, the impact of increased accruals and reserves
for such exposures, and adverse changes in economic and political climates
around the world, including terrorist activities and international hostilities.
Accordingly, there can be no assurance that the Company will meet future
results, performance or achievements expressed or implied by such
forward-looking statements. As appropriate, additional factors are contained in
other reports filed by the Company with the Securities and Exchange Commission.
This paragraph is included to provide safe harbor for forward-looking
statements, which are not generally required to be publicly revised as
circumstances change, and which the Company does not intend to update.
Media Contact: John S. Riley (302) 594-6025
Investor Contact: Allen A. Spizzo (302) 594-6491
This information is provided by RNS
The company news service from the London Stock Exchange
END
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