Acquisition
2003年12月1日 - 10:30PM
RNSを含む英国規制内ニュース (英語)
RNS Number:6909S
Hercules Inc
01 December 2003
Release on Receipt
03-27-R
HERCULES ANNOUNCES ACQUISITION OF
QUANTUM
WILMINGTON, DE, December 1, 2003 . . . Hercules Incorporated (NYSE: HPC) today
announced its acquisition of Quantum Hi-Tech Co. Ltd, a leading producer of
carboxymethylcellulose (CMC) products located in Jiangmen City, Guangdong
Province, China. The acquisition consists of a production facility commissioned
in 1998 with current production capacity of 6,000 MT and annual sales of
approximately $10 million USD. Quantum's key markets include food, toothpaste,
ceramics, and paper with the majority of its sales in China.
Craig Rogerson, Acting President and Chief Operating Officer, stated, "Quantum
is an excellent strategic fit for our Aqualon Division. It will create a
platform for growth in Asia-Pacific, the fastest growing market for cellulose
ethers in the world. The acquisition also fits well with Hercules' overall
strategy to achieve growth through bolt-on acquisitions that complement our
products and expand our market positions."
"By acquiring this leading CMC company in China, Aqualon will have a strong
regional presence, becoming the only CMC producer with manufacturing facilities
on 3 continents. With its low-cost manufacturing base, strong organization, and
superior products for the Asian market, it is an excellent growth platform,"
said John Televantos, Aqualon Division President and Vice President, Hercules.
"It also offers an additional channel for marketing other Aqualon products in
China."
A spokesperson for Quantum added: "Combining Aqualon's resources and technical
expertise with our established presence in China's marketplace, make excellent
business sense for Hercules and an exciting future for Quantum."
The acquisition is expected to be accretive to earnings from the outset. Aqualon
is a world leader in products that modify the physical properties of water-based
systems. Its key markets served include manufacturers of personal care, such as
hair, oral hygiene and skin products; paint manufacturers and producers of
construction materials.
# # #
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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