EX-99
7
ch99-2.htm
PRESS RELEASE
The Clorox Company
The Clorox Company
News Release
Clorox Announces
Henkel Transaction Completed
OAKLAND, Calif., Nov.
22, 2004 - The Clorox Company (NYSE: CLX) (PSE: CLX) today
announced that it has completed a previously communicated agreement
with major shareholder Henkel KgaA, under which Clorox exchanged
full ownership interest in a subsidiary for Henkel's
approximately 61.4 million shares, or 29 percent, of Clorox common
stock.
The subsidiary now
transferred to Henkel contains Clorox's previous ownership
interest in its insecticides and Soft Scrub
®
cleanser businesses,
its 20 percent interest in the Henkel Iberica, S.A., joint venture,
and cash.
As previously
communicated, the transaction was initially financed with
commercial paper. The company expects to refinance the commercial
paper by issuing $1.5 billion to $1.7 billion of long-term debt
over the next few weeks.
The Clorox
Company
The Clorox Company is
a leading manufacturer and marketer of consumer products with
fiscal year 2004 revenues of $4.3 billion. Clorox markets some of
consumers' most trusted and recognized brand names, including
its namesake bleach and cleaning products, Armor
All
®
and STP
®
auto care products,
Fresh Step
®
and Scoop Away
®
cat
litters, Kingsford
®
charcoal briquets, Hidden
Valley
®
and K C Masterpiece
®
dressings and sauces, Brita
®
water-filtration
systems, and Glad
®
bags, wraps and containers. With
8,600 employees worldwide, the company manufactures products in 25
countries and markets them in more than 100 countries. Clorox is
committed to making a positive difference in the communities where
its employees work and live. Founded in 1980, The Clorox Company
Foundation has awarded cash grants totaling more than $58.3 million
to nonprofit organizations, schools and colleges; and in fiscal
2004 alone made product donations valued at $5 million. For more
information about Clorox, visit www.TheCloroxCompany.com.
Forward-Looking
Statements
Except for historical information,
matters discussed above, including statements about future volume,
sales and earnings growth, profitability, costs, cost savings or
expectations, are forward-looking statements based on management's
estimates, assumptions and projections. Important factors that
could cause results to differ materially from management's
expectations are described in "Forward-Looking Statements and Risk
Factors" and "Management's Discussion & Analysis" in the
company's SEC Form 10-K for the year ended June 30, 2004, as
updated from time to time in the company's SEC filings. Those
factors include, but are not limited to, general economic and
marketplace conditions and events; competitors' actions; the
company's costs, including changes in the company's exposure
to commodity cost increases; the effects on cash flow of tax
payments and share repurchases, including interest costs and
repayment of debt incurred to finance repurchases; the ability to
manage and realize the benefits of joint ventures and other
cooperative relationships; risks inherent in litigation and
international operations; the success of new products; the
integration of acquisitions; and environmental, regulatory and
intellectual property matters.
Clorox
Contacts
Media
Relations:
Investor Relations:
Kathryn Caulfield
(510)
271-7209
Steve Austenfeld (510) 271-2270
Dan Staublin (510)
271-1622
Michael Iracondo (510) 271-2156
Henkel Contacts
Corporate
Communications:
Investor Relations:
Ernst Primosch +
49-211-797-3533
Oliver Luckenbach + 49-211-797-1631
Lars Witteck +
49-211-797-2606
###

EX - 99 7 ch99 - 2 . htm PRESS RELEASE The Clorox Company The Clorox Company News Release Clorox Announces Henkel Transaction Completed OAKLAND , Calif . , Nov . 22 , 2004 - The Clorox Company ( NYSE : CLX ) ( PSE : CLX ) today announced that it has completed a previously communicated agreement with major shareholder Henkel KgaA , under which Clorox exchanged full ownership interest in a subsidiary for Henkel 's approximately 61 . 4 million shares , or 29 percent , of Clorox common stock . The subsidiary now transferred to Henkel contains Clorox 's previous ownership interest in its insecticides and Soft Scrub ® cleanser businesses , its 20 percent interest in the Henkel Iberica , S . A . , joint venture , and cash . As previously communicated , the transaction was initially financed with commercial paper . The company expects to refinance the commercial paper by issuing $ 1.5 billion to $ 1.7 billion of long - term debt over the next few weeks . The Clorox Company The Clorox Company is a leading manufacturer and marketer of consumer products with fiscal year 2004 revenues of $ 4.3 billion . Clorox markets some of consumers ' most trusted and recognized brand names , including its namesake bleach and cleaning products , Armor All ® and STP ® auto care products , Fresh Step ® and Scoop Away ® cat litters , Kingsford ® charcoal briquets , Hidden Valley ® and K C Masterpiece ® dressings and sauces , Brita ® water - filtration systems , and Glad ® bags , wraps and containers . With 8,600 employees worldwide , the company manufactures products in 25 countries and markets them in more than 100 countries . Clorox is committed to making a positive difference in the communities where its employees work and live . Founded in 1980 , The Clorox Company Foundation has awarded cash grants totaling more than $ 58.3 million to nonprofit organizations , schools and colleges ; and in fiscal 2004 alone made product donations valued at $ 5 million . For more information about Clorox , visit www.TheCloroxCompany.com . Forward - Looking Statements Except for historical information , matters discussed above , including statements about future volume , sales and earnings growth , profitability , costs , cost savings or expectations , are forward - looking statements based on management 's estimates , assumptions and projections . Important factors that could cause results to differ materially from management 's expectations are described in " Forward - Looking Statements and Risk Factors " and " Management 's Discussion & Analysis " in the company 's SEC Form 10 - K for the year ended June 30 , 2004 , as updated from time to time in the company 's SEC filings . Those factors include , but are not limited to , general economic and marketplace conditions and events ; competitors ' actions ; the company 's costs , including changes in the company 's exposure to commodity cost increases ; the effects on cash flow of tax payments and share repurchases , including interest costs and repayment of debt incurred to finance repurchases ; the ability to manage and realize the benefits of joint ventures and other cooperative relationships ; risks inherent in litigation and international operations ; the success of new products ; the integration of acquisitions ; and environmental , regulatory and intellectual property matters . Clorox Contacts Media Relations : Investor Relations : Kathryn Caulfield ( 510 ) 271 - 7209 Steve Austenfeld ( 510 ) 271 - 2270 Dan Staublin ( 510 ) 271 - 1622 Michael Iracondo ( 510 ) 271 - 2156 Henkel Contacts Corporate Communications : Investor Relations : Ernst Primosch + 49 - 211 - 797 - 3533 Oliver Luckenbach + 49 - 211 - 797 - 1631 Lars Witteck + 49 - 211 - 797 - 2606 # # #
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Generic_Info.ANNUAL_REVENUES I-Generic_Info.ANNUAL_REVENUES O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O