Platform Responds to Press Speculation Regarding its Agricultural Solutions Segment
June 07 2018 - 06:30AM
Platform Specialty Products Corporation (NYSE:PAH) ("Platform")
responded to press reports regarding its Agricultural Solutions
segment today.
Management Comment
“As we announced in August of last year, we have been pursuing a
separation of our businesses into two standalone companies.
The primary purpose of the separation is to maximize value for our
shareholders and enable these businesses to best execute on their
respective strategies for growth. To achieve that goal,
consistent with our public statements over the past few months, we
have been and will continue to be opportunistic in pursuing
separation alternatives. In that context, we have had
discussions with Wilmcote Holdings plc as well as several other
parties. We will choose the path for our separation that
creates an optimal outcome for our shareholders. We are
fortunate to have options, and we will keep all of our stakeholders
apprised as and when appropriate.”
About Platform
Platform is a global and diversified producer of high-technology
specialty chemicals and a provider of technical services. The
business involves the formulation of a broad range of
solutions-oriented specialty chemicals, which are sold into
multiple industries, including automotive, agriculture, animal
health, electronics, graphic arts, and offshore oil and gas
production and drilling. More information on Platform is available
at www.platformspecialtyproducts.com.
Forward-looking Statements
This press release contains forward-looking statements,
including, but not limited to, the pursuit of separation
alternatives and the anticipated benefits of the separation of
Platform’s businesses. Actual results could differ from those
projected due to numerous factors, including, without limitation,
Platform's ability to successfully complete the proposed
separation; the expected form, structure and timing for completion;
adverse effects on the two companies' business operations or
financial results; market volatility; legal, tax and regulatory
requirements; unanticipated delays and transaction expenses; the
impact of the proposed separation on Platform's employees,
customers, suppliers and lenders; the ability of the two companies
to operate independently following the proposed separation; the
diverting of management's attention from Platform's ongoing
business operations; and the possibility of more attractive
strategic options arising in the future. Additional information
concerning these and other factors that could cause actual results
to vary is, or will be, included in Platform's periodic and other
reports filed with the Securities and Exchange Commission,
including Platform's annual report on Form 10-K for the fiscal year
ended December 31, 2017. These forward-looking statements are
made as of the date of this press release and are based on
management's estimates and assumptions with respect to future
events and financial performance. Platform undertakes no obligation
to update any forward-looking statements, whether as a result of
new information, future events or otherwise.
CONTACT:
Investor Relations Contact: Carey Dorman Vice
President, Corporate Treasurer and Investor Relations Platform
Specialty Products Corporation 1-561-406-8465
Media Contact: Liz Cohen KEKST
1-212-521-4845
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