EX-99.1
2
a10-13474_1ex99d1.htm
EX-99.1
Exhibit
99.1
NEWS RELEASE
CHASE CORPORATION SELLS CIRCUIT
BOARD ASSEMBLY BUSINESS
Bridgewater, MA, July 1, 2010
- Chase
Corporation (
NYSE Amex: CCF
), a global
manufacturer of protective tapes and coatings for high reliability
applications, announces that it has divested its contract manufacturing
services business, Chase EMS, to MC Assembly.
Chase Electronic Manufacturing Services (www.chaseems.com), a segment of
Chase Corporation's business since 1999, is a leader in the Northeast printed
circuit board design, proto-typing, assembly, inspection and BGA rework
services.
The
transaction, structured as a sale of substantially all of the assets of Chase
EMS closed on June 30, 2010. All of
the Chase EMS employees as well as the leased facility located in Winchester,
Massachusetts have transferred to MC Assembly.
Proceeds from the sale will be used for debt reduction and continued
investment in the Company's core tapes and coatings businesses.
MC
Assembly (www.mcati.com) was selected from a number of interested buyers as
being most compatible with regard to geography, market, capabilities and scale.
"MC
Assembly is a good fit for Chase EMS and has the resources to help the business
reach its full potential", said Peter Chase, Chase Corporation's Chairman and
CEO. "This divestiture will allow Chase Corporation to focus more of its
resources on core operations. Over the last several years we have grown our
Specialized Manufacturing business to be a significant supplier of protective
materials used worldwide in a wide array of specialized anti-corrosion and
insulating applications.
"We
thank General Manager, Ron Barilone, and his entire staff for their many
contributions over the past ten years and wish them personal success in the
future."
Contact:
Paula
Myers
Shareholder &
Investor Relations Department
Phone:
(508)
279-1789 Ext. 219
E-mail:
investorrelations@chasecorp.com
Website:
www.chasecorp.com
Chase
Corporation, founded in 1946, is a global manufacturer of protective tapes and
coatings for high reliability applications.
Certain
statements in this press release are forward-looking. These may be identified by the use of
forward-looking words or phrases such as "believe"; "expect"; "anticipate"; "should";
"planned"; "estimated" and "potential" among others. These forward-looking statements are based on
Chase Corporation's current expectations.
The Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for such forward-looking statements.
In order to comply with the terms of the "safe harbor", the Company
cautions investors that any forward-looking statements made by the Company are
not guarantees of future performance and that a variety of factors could cause
the Company's actual results and experience to differ materially from the
anticipated results or other expectations expressed in the Company's
forward-looking statements. The risks and uncertainties which may affect the
operations, performance, development and results of the Company's business
include, but are not limited to, the Company's ability to successfully
integrate acquired operations; rapid technology changes and the highly
competitive environment in which the Company operates. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date the statement was made.

EX - 99 . 1 2 a10 - 13474 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 NEWS RELEASE CHASE CORPORATION SELLS CIRCUIT BOARD ASSEMBLY BUSINESS Bridgewater , MA , July 1 , 2010 - Chase Corporation ( NYSE Amex : CCF ) , a global manufacturer of protective tapes and coatings for high reliability applications , announces that it has divested its contract manufacturing services business , Chase EMS , to MC Assembly . Chase Electronic Manufacturing Services ( www.chaseems.com ) , a segment of Chase Corporation 's business since 1999 , is a leader in the Northeast printed circuit board design , proto - typing , assembly , inspection and BGA rework services . The transaction , structured as a sale of substantially all of the assets of Chase EMS closed on June 30 , 2010 . All of the Chase EMS employees as well as the leased facility located in Winchester , Massachusetts have transferred to MC Assembly . Proceeds from the sale will be used for debt reduction and continued investment in the Company 's core tapes and coatings businesses . MC Assembly ( www.mcati.com ) was selected from a number of interested buyers as being most compatible with regard to geography , market , capabilities and scale . " MC Assembly is a good fit for Chase EMS and has the resources to help the business reach its full potential " , said Peter Chase , Chase Corporation 's Chairman and CEO . " This divestiture will allow Chase Corporation to focus more of its resources on core operations . Over the last several years we have grown our Specialized Manufacturing business to be a significant supplier of protective materials used worldwide in a wide array of specialized anti - corrosion and insulating applications . " We thank General Manager , Ron Barilone , and his entire staff for their many contributions over the past ten years and wish them personal success in the future . " Contact : Paula Myers Shareholder & Investor Relations Department Phone : ( 508 ) 279 - 1789 Ext . 219 E - mail : investorrelations@chasecorp.com Website : www.chasecorp.com Chase Corporation , founded in 1946 , is a global manufacturer of protective tapes and coatings for high reliability applications . Certain statements in this press release are forward - looking . These may be identified by the use of forward - looking words or phrases such as " believe " ; " expect " ; " anticipate " ; " should " ; " planned " ; " estimated " and " potential " among others . These forward - looking statements are based on Chase Corporation 's current expectations . The Private Securities Litigation Reform Act of 1995 provides a " safe harbor " for such forward - looking statements . In order to comply with the terms of the " safe harbor " , the Company cautions investors that any forward - looking statements made by the Company are not guarantees of future performance and that a variety of factors could cause the Company 's actual results and experience to differ materially from the anticipated results or other expectations expressed in the Company 's forward - looking statements . The risks and uncertainties which may affect the operations , performance , development and results of the Company 's business include , but are not limited to , the Company 's ability to successfully integrate acquired operations ; rapid technology changes and the highly competitive environment in which the Company operates . Readers are cautioned not to place undue reliance on these forward - looking statements , which speak only as of the date the statement was made .