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PAYS $124.5 MILLION IN VERTAC LITIGATION |
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In addition, today the Company paid $124.5 million to the United States in connection with the lawsuit captioned United States of America v. Vertac Chemical Corp., et al. (Civil No. 4:80CV00109 GH, U.S. District Court, Eastern District of Arkansas, Western Division). This lawsuit is more fully described in the Company’s Form 10-Q for the quarterly period ended March 31, 2007, and in other periodic reports filed with the SEC. Neither the tax refund nor the payment described above have an impact on earnings. Craig A. Rogerson, the Company’s President and Chief Executive Officer, commented, “We continue to make significant progress in resolving legacy issues, and expect to generate strong cash flow in 2007, up substantially from 2006.” # # # 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 Press 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, changes in tax laws, regulations and/or rates
or changes resulting from ongoing reviews of tax
liabilities, the impact of additional response costs,
including interest on such response costs, to be paid in
connection with the Vertac litigation, ability to achieve
growth in earnings and cash flows, business climate,
business performance, economic and competitive
uncertainties, higher manufacturing costs, adverse legal and
regulatory developments, including increases in the number
or financial exposures of claims, lawsuits, settlements or
judgments, the impact of increased accruals and reserves for
such exposures, the outcome of litigation and appeals, and
adverse changes in economic and political climates around
the world, including terrorist activities, international
hostilities, governmental instabilities and potential
natural disasters. 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. The words or phrases “will likely
result,” “are expected to,” “will continue,” “is
anticipated,” “ expect,” “estimate,” “project” or similar
expressions are among those which identify forward-looking
statements. 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,
except as may be required by law.
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