EX-99.1
3
ex99_1.htm
EXHIBIT 99.1
Exhibit 99.1
Exhibit
99.1
Release
Immediately
06-10-F
HERCULES
COMPLETES SALE OF FIBERVISIONS
WILMINGTON,
DE, MARCH 31, 2006...
Hercules
Incorporated (NYSE: HPC) today announced the completed sale of its 51% interest
in FiberVisions, L.L.C., ("FiberVisions"), a wholly-owned subsidiary of the
Company, to Snow, Phipps & Guggenheim, L. P., an affiliate of SPG Partners,
LLC ("SPG"), a New York-based private equity firm.
Hercules
has received initial proceeds of $109 million which will be used to
purchase its 11.125% Senior Notes.
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About
FiberVisions
FiberVisions
is the leading global producer of specialty fibers for nonwoven fabrics and
textile fibers used in consumer and industrial products. It also is the global
leader in the marketing of bicomponent specialty fibers through ES FiberVisions,
a joint venture with Chisso Corporation.
About
Hercules Incorporated
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.
About
SPG Partners, LLC
SPG
is a
New York-based private equity firm seeking to acquire businesses in attractive
industries where it can leverage the expertise of its exclusive Operating
Partners, who are seasoned industry executives.
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,
ability to execute productivity improvements and reduce costs, ability to
execute and integrate acquisitions, ability to execute divestitures, 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, foreign exchange rates,
adverse legal and regulatory developments. 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.
Hercules:
Media
Contact: John S.
Riley (302)
594-6025
Investor
Contact: Stuart L. Fornoff (302)
594-7151
SPG
Partners, LLC:
Steven
Bruce / Sam Hollander / Ann Taylor Reed
Abernathy
MacGregor Group
(212)
371-5999

EX - 99 . 1 3 ex99 _ 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 Exhibit 99 . 1 Release Immediately 06 - 10 - F HERCULES COMPLETES SALE OF FIBERVISIONS WILMINGTON , DE , MARCH 31 , 2006 ... Hercules Incorporated ( NYSE : HPC ) today announced the completed sale of its 51 % interest in FiberVisions , L . L . C . , ( " FiberVisions " ) , a wholly - owned subsidiary of the Company , to Snow , Phipps & Guggenheim , L . P . , an affiliate of SPG Partners , LLC ( " SPG " ) , a New York - based private equity firm . Hercules has received initial proceeds of $ 109 million which will be used to purchase its 11 . 125 % Senior Notes . # # # About FiberVisions FiberVisions is the leading global producer of specialty fibers for nonwoven fabrics and textile fibers used in consumer and industrial products . It also is the global leader in the marketing of bi component specialty fibers through ES FiberVisions , a joint venture with Chisso Corporation . About Hercules Incorporated 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 . About SPG Partners , LLC SPG is a New York - based private equity firm seeking to acquire businesses in attractive industries where it can leverage the expertise of its exclusive Operating Partners , who are seasoned industry executives . 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 , ability to execute productivity improvements and reduce costs , ability to execute and integrate acquisitions , ability to execute divestitures , 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 , foreign exchange rates , adverse legal and regulatory developments . 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 . Hercules : Media Contact : John S . Riley ( 302 ) 594 - 6025 Investor Contact : Stuart L . Fornoff ( 302 ) 594 - 7151 SPG Partners , LLC : Steven Bruce / Sam Hollander / Ann Taylor Reed Abernathy MacGregor Group ( 212 ) 371 - 5999
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