GuruTrader
15 years ago
GenTek Inc. Agrees to Be Acquired by American Securities LLC for $38.00 Per Share in Cash
Press Release
Source: GenTek Inc.
On Monday September 28, 2009, 7:45 am EDT
Buzz up! 0 Print.Companies:GenTek Inc.
PARSIPPANY, N.J.--(BUSINESS WIRE)--GenTek Inc. (NASDAQ: GETI - News), a leading provider of specialty inorganic chemical products and valve actuation systems and components for automotive and heavy duty/commercial engines, announced today that it has entered into a definitive agreement to be acquired by ASP GT Acquisition Corp.(ASP), a wholly-owned subsidiary of investment funds managed by American Securities LLC, a private equity firm.
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Symbol Price Change
GETI 27.00 0.00
{"s" : "geti","k" : "c10,l10,p20,t10","o" : "","j" : ""} Under the terms of the merger agreement, ASP will commence a tender offer to purchase for cash all of the outstanding shares of GenTek common stock at a price of $38.00 per share. The transaction is valued at $673 million consisting of equity value of approximately $411 million plus the assumption of net debt and similar liabilities of approximately $262 million. The tender offer is expected to commence on or before October 9, 2009 and to expire on the 20th business day from and including the commencement date, unless extended in accordance with the terms of the merger agreement and the applicable rules and regulations of the Securities and Exchange Commission. Following completion of the tender offer, the parties will complete a second-step merger in which any remaining shares of GenTek will be converted into the right to receive the same price per share paid in the tender offer, and GenTek will cease to be a public company. Holders of GenTek’s Tranche C Warrants will have the right to receive a cash payment net of their per share exercise price and $38.00.
William E. Redmond, Jr., GenTek’s President and CEO, said, “Following consideration of a full range of strategic alternatives, we are pleased to have reached this agreement with American Securities which creates substantial value for our stockholders. This transaction represents a premium of 40.7% over GenTek’s closing share price of $27.00 on September 25, 2009, the last trading day before the merger agreement was signed. In addition, we believe that the transaction will have a positive outcome for our customers and employees.”
The Board of Directors of GenTek has unanimously approved the merger agreement and the transactions contemplated by the merger agreement, and has resolved to recommend that GenTek’s stockholders tender their shares in connection with the tender offer contemplated by the merger agreement. The closing of the tender offer by ASP is subject to certain conditions, including a minimum tender condition. In addition, upon closing of the tender offer and assuming the minimum tender condition is satisfied, ASP has been granted the option to purchase all authorized but unissued shares from GenTek that would enable ASP to hold one share more than 90% of GenTek’s outstanding common stock.
Moelis & Company is acting as financial advisor to GenTek and has delivered a fairness opinion to the GenTek Board. Latham & Watkins LLP is legal counsel to GenTek.
About GenTek Inc.
GenTek provides specialty inorganic chemical products and valve actuation systems and components for automotive and heavy duty/commercial engines. GenTek operates over 50 manufacturing facilities and technical centers and has approximately 1,100 employees. GenTek’s 2,000-plus customers include many of the world’s leading manufacturers of cars and trucks, and heavy equipment, in addition to global energy companies and water treatment facilities. Additional information about the Company is available at www.gentek-global.com.
About American Securities LLC
Headquartered in New York with an office in Shanghai, American Securities is a U.S. middle-market private equity firm that invests in market-leading companies in North America with annual revenues generally ranging between $100 million to $1 billion. Investments are funded from more than $6 billion of committed capital. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and manage his share of his family's Sears, Roebuck & Co. fortune. More information on American Securities can be found at www.american-securities.com.
Important Information about the Tender Offer
The description contained in this press release is neither an offer to purchase nor a solicitation of an offer to sell securities. The planned tender offer described in this press release has not commenced. At the time the planned tender offer is commenced, the American Securities affiliates that entered into the Merger Agreement will file a tender offer statement on Schedule TO with the Securities and Exchange Commission, and GenTek will file a solicitation/recommendation statement on Schedule 14D-9, with respect to the planned tender offer. The tender offer statement (including an offer to purchase, a related letter of transmittal and other tender offer documents) and the solicitation/recommendation statement will contain important information that should be read carefully before making any decision to tender securities in the planned tender offer. Those materials will be made available to GenTek’s stockholders at no expense to them. In addition, all of those materials (and all other tender offer documents filed with the SEC) will be made available at no charge on the SEC’s website: www.sec.gov.
In addition to the offer to purchase, the related letter of transmittal and other tender offer documents, as well as the solicitation/recommendation statement, GenTek files annual, quarterly and special reports, proxy statements and other information with the SEC. You may read and copy any reports, statements or other information filed by GenTek at the SEC public reference room at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-732-0330 1-800-732-0330 for further information on the public reference room. GenTek’s filings with the SEC are also available to the public from commercial document-retrieval services and at the website maintained by the SEC at www.sec.gov.
Cautionary Note Regarding Forward Looking Statements
Certain statements contained in this press release about our expectation of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as, “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” or the negative of these terms or other comparable terminology. These statements are not historical facts, but instead represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. It is possible that our actual results and financial condition may differ, possibly materially, from our anticipated results and financial condition indicated in these forward-looking statements. In addition, certain factors could affect the outcome of the matters described in this press release. These factors include, but are not limited to, (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, (2) the outcome of any legal proceedings that may be instituted against us or others following the announcement of the merger agreement, (3) the inability to complete the tender offer or the merger due to the failure to satisfy other conditions, (4) risks that the proposed transaction disrupts current plans and operations, and (5) the costs, fees and expenses related to the transaction. Additional information regarding risk factors and uncertainties affecting GenTek is detailed from time to time in the GenTek’s filings with the SEC, including, but not limited to, the GenTek’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, available for viewing on the GenTek’s website at www.gentek-global.com and on the SEC’s website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact:
GenTek Inc.Investors/Media:Thomas B. Testa, 973-515-1885 973-515-1885IR@gentek-global.com
OptionMonster
17 years ago
GenTek Inc. Announces the Acquisition of Bay Chemical and Supply Company
PARSIPPANY, N.J., Dec. 31, 2007 (PRIME NEWSWIRE) -- GenTek Inc. (Nasdaq:GETI) announced today that its wholly-owned subsidiary, General Chemical LLC, has acquired Bay Chemical and Supply Company, a producer of water treatment chemicals in Odem, Texas.
The purchase price of the transaction is $7 million before any working capital adjustments.
Commenting on the transaction, Vincent J. Opalewski, Vice President and General Manager of General Chemical LLC, noted, "This transaction expands our customer base in the Texas market, adds new products to our portfolio of water treatment chemicals and allows us to drive incremental savings through our raw material sourcing arrangements." William E. Redmond, Jr., GenTek's President and Chief Executive Officer, added, "This acquisition fits well with our stated objective to invest in the company's core assets, chemical and auto/truck valve train systems, to accelerate GenTek shareholder value creation."
About GenTek Inc.
GenTek provides specialty inorganic chemical products and services for treating water and wastewater, petroleum refining, and the manufacture of personal-care products, and valve-train systems and components for automotive engines. GenTek operates over 50 manufacturing facilities and technical centers and has approximately 1,500 employees.
GenTek's 2,000-plus customers include many of the world's leading manufacturers of cars and trucks, and heavy equipment, in addition to global energy companies and makers of personal-care products. Additional information about the Company is available at www.gentek-global.com.
The GenTek Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3295
Forward-looking statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements, other than statements of historical facts, included herein may constitute forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, there can be no assurances that these assumptions and expectations will prove to have been correct. Important factors that could cause actual results to differ from these expectations include, among others, our outstanding indebtedness and leverage; the impact of the restrictions imposed by our indebtedness; our ability to fund and execute our business plan; potential adverse developments with respect to our liquidity or results of operations; the high degree of competition in certain of our businesses, and the potential for new competitors to enter into those businesses; continued or increased price pressure in our markets; customers and suppliers seeking contractual and credit terms less favorable to us; our ability to maintain customers and suppliers that are important to our operations; our ability to attract and retain new customers; the impact of possible substantial future cash funding requirements for our pension plans, including if investment returns on pension assets are lower than assumed; the impact of any possible failure to achieve targeted cost reductions; increases in the cost of raw materials, including energy and other inputs used to make our products; future modifications to existing laws and regulations affecting the environment, health and safety; discovery of unknown contingent liabilities, including environmental contamination at our facilities; suppliers' delays or inability to deliver key raw materials; breakdowns or closures of our or certain of our customers' plants or facilities; inability to obtain sufficient insurance coverage or the terms thereof; domestic and international economic conditions, fluctuations in interest rates and in foreign currency exchange rates; the cyclical nature of certain of our businesses and markets; the potential that actual results may differ from the estimates and assumptions used by management in the preparation of the consolidated financial statements; future technological advances which may affect our existing product lines; the potential exercise of our Tranche B and Tranche C warrants and other events could have a substantial dilutive effect on our common stock; and other risks detailed from time to time in our SEC reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur.
CONTACT: GenTek Inc.
Investor/Media Contact:
William E. Redmond, Jr.
973-515-1821
IR@gentek-global.com
Source: PrimeNewswire (December 31, 2007 - 11:36 AM EST)
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OptionMonster
17 years ago
GenTek Inc. Announces Voluntary Term Loan Repurchase
PARSIPPANY, N.J., Dec. 17, 2007 (PRIME NEWSWIRE) -- GenTek Inc. (Nasdaq:GETI) announced that it has repurchased on the open market $7.6 million of its first lien term loans. The acquired debt will be cancelled similar to a voluntary loan pre-payment. This brings cumulative prepayments of its term debt over the past six months to $27.6 million. This voluntary prepayment reduces the current balance outstanding on the first lien term loans to $239.6 million. The Company currently has no balance outstanding on its revolving credit facility.
"We continue our commitment to improve operating cash flow, reduce debt levels and drive value for our shareholders," said William E. Redmond, Jr., President and CEO of GenTek Inc. "The $27.6 million in prepayments made since July will result in annual interest savings of approximately $1.9 million based on current interest rates."
About GenTek Inc.
GenTek provides specialty inorganic chemical products and services for treating water and wastewater, petroleum refining, and the manufacture of personal-care products, and valve-train systems and components for automotive engines. GenTek operates over 50 manufacturing facilities and technical centers and has approximately 1,500 employees.
GenTek's 2,000-plus customers include many of the world's leading manufacturers of cars and trucks, and heavy equipment, in addition to global energy companies and makers of personal-care products. Additional information about the Company is available at the Company's web site: www.gentek-global.com.
The GenTek Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3295
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements, other than statements of historical facts, included herein may constitute forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, there can be no assurances that these assumptions and expectations will prove to have been correct. Important factors that could cause actual results to differ from these expectations include, among others, our outstanding indebtedness and leverage; the impact of the restrictions imposed by our indebtedness; our ability to fund and execute our business plan; potential adverse developments with respect to our liquidity or results of operations; the high degree of competition in certain of our businesses, and the potential for new competitors to enter into those businesses; continued or increased price pressure in our markets; customers and suppliers seeking contractual and credit terms less favorable to us; our ability to maintain customers and suppliers that are important to our operations; our ability to attract and retain new customers; the impact of possible substantial future cash funding requirements for our pension plans, including if investment returns on pension assets are lower than assumed; the impact of any possible failure to achieve targeted cost reductions; increases in the cost of raw materials, including energy and other inputs used to make our products; future modifications to existing laws and regulations affecting the environment, health and safety; discovery of unknown contingent liabilities, including environmental contamination at our facilities; suppliers' delays or inability to deliver key raw materials; breakdowns or closures of our or certain of our customers' plants or facilities; inability to obtain sufficient insurance coverage or the terms thereof; domestic and international economic conditions, fluctuations in interest rates and in foreign currency exchange rates; the cyclical nature of certain of our businesses and markets; the potential that actual results may differ from the estimates and assumptions used by management in the preparation of the consolidated financial statements; future technological advances which may affect our existing product lines; the potential exercise of our Tranche B and Tranche C warrants and other events could have a substantial dilutive effect on our common stock; and other risks detailed from time to time in our SEC reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur.
CONTACT: GenTek Inc.
Investor/Media Contact:
William E. Redmond, Jr.
973-515-1821
IR@gentek-global.com
Source: PrimeNewswire (December 17, 2007 - 4:01 PM EST)
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www.quotemedia.com
OptionMonster
17 years ago
GenTek Inc. Reports Third Quarter 2007 Results
PARSIPPANY, N.J., Nov. 9, 2007 (PRIME NEWSWIRE) -- GenTek Inc. (Nasdaq:GETI) today announced results for the third quarter ended September 30, 2007. For the third quarter of 2007, GenTek had revenues totaling $151.3 million and operating profit of $20.4 million, after a $10.1 million gain on disposition of long term assets, a $1.7 million restructuring and impairment charge and a $2.6 million gain from curtailment of post retirement benefits. This compares to revenues of $158.5 million and operating profit of $13.8 million in the prior-year period, after a $0.2 million gain on disposition of long term assets and restructuring and impairment charges of $0.2 million. The increase in year over year operating profit is due to gains on the sale of surplus real estate combined with continued strong performance from the chemicals segment. The Company recorded income from continuing operations of $8.6 million, or $0.75 per diluted share, compared to income from continuing operations of $4.3 million, or $0.38 income per diluted share, in the third quarter of 2006.
For the nine months ended September 30, 2007, GenTek had revenues totaling $465.7 million and operating profit of $47.6 million. This compares to revenues of $445.5 million and operating profit of $42.9 million for 2006. The Company had income from continuing operations of $17.7 million, or $1.52 per diluted share in 2007, compared to income from continuing operations of $11.6 million, or $1.07 per diluted share, in the comparable prior-year period. The increase in revenues in 2007 is due in large part to the impact of the acquisitions made in 2006 which benefit both the manufacturing and performance chemicals segments. The increase in operating profit is the result of the gains on real estate sales combined with the favorable results within the performance chemicals segment which more than offset results within the manufacturing segment driven by reduced volumes and unfavorable product mix in the automotive market.
The Company had $12.9 million of cash and $249.0 million of debt outstanding as of September 30, 2007. The Company had no balance outstanding under its revolving credit facility.
For the third quarter of 2007, adjusted EBITDA was $18.2 million which was down $3.7 million from the prior year. EBITDA in the quarter was impacted by the manufacturing segment resulting from weakness in automotive market demand, reduced heavy equipment volumes as a result of recent emission standards changes and inefficiencies associated with the reconfiguration of the automotive manufacturing footprint to the lower cost, non union, Tallahassee, Fl facility. These trends offset continued strength in the company's Performance Chemicals segment.
For the nine months ended September 30, 2007, adjusted EBITDA was $65.3 million which is down $1.8 million from the prior-year period. Adjusted EBITDA was driven by similar trends identified for the most recent quarter in the manufacturing segment and a non recurring warranty charge for one of our key automotive customers.
"We continue to be pleased with the momentum in our performance chemicals segment and are focused on continuing to expand that momentum through the key strategic investments currently being made in our Augusta, GA facility on product and market expansion. Our manufacturing segment had a difficult quarter of transition inefficiencies to our expanded Tallahassee, Fl facility compounded by both auto and heavy equipment revenue softness. We are focused on completing the manufacturing transition into Tallahassee by year end '07, then engineering for an expected start ship of over $93 Million in new auto business in January '09. The quarter was also highly successful in generating cash from the disposition of non core and unproductive assets which were utilized to pre pay term debt and repurchase common shares," said William E. Redmond, Jr. GenTek's President and CEO.
Adjusted EBITDA
The Company has presented adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) as a measure of operating results. Adjusted EBITDA reflects removing the impact of any restructuring, impairment, income from discontinued operations and certain one-time items. Adjusted EBITDA is a non-GAAP (Generally Accepted Accounting Principles) measure, and, as such, a reconciliation of adjusted EBITDA to net income is provided in the attached Schedule 2. GenTek has presented adjusted EBITDA as a supplemental financial measure as a means to evaluate performance of the Company's business. GenTek believes that, when viewed with GAAP results and the accompanying reconciliation, it provides a more complete understanding of factors and trends affecting the Company's business than the GAAP results alone. In addition, the Company understands that adjusted EBITDA is also a measure commonly used to value businesses by its investors and lenders.
OptionMonster
17 years ago
GenTek Inc. Receives Proposal to be Acquired
PARSIPPANY, N.J., Oct. 4, 2007 (PRIME NEWSWIRE) -- GenTek Inc. (Nasdaq:GETI) announced today that it has received an unsolicited letter dated October 2, 2007 from funds managed by Abrams Capital, LLC, a principal stockholder of GenTek, informing the Company of its interest in pursuing a transaction by which the Abrams Funds would offer to purchase all outstanding shares of the GenTek common stock for $33.50 per share in cash on a fully diluted basis assuming the exercise of all outstanding GenTek warrants. The letter states the proposal is not subject to financing conditions. According to the letter, the Abrams Funds beneficially own approximately 2.5 million shares of GenTek common stock, which includes approximately 1.35 million shares issuable upon the exercise of warrants.
In reviewing the proposal, GenTek's Board of Directors first noted that the Company is not for sale. The Board also considered the Company's progress in continuously executing and reviewing strategies for increasing shareholder value. Among other things, the Board noted the Company's success in disposing of non-core and under-performing assets, renegotiating the terms of its debt financing, the redemption in full of its second lien term loan, the continuation of voluntary pre-payments on the Company's first lien term loan, and the recently announced stock re-purchase program. In addition, the Board reviewed the consistent improvements in General Chemical's operating results and the anticipated positive future impact of new business awards and manufacturing efficiency improvements in GT Technologies.
In considering the proposal in the context of the Company's strategies for shareholder value maximization and the Company's future prospects, the Board concluded that the proposal from Abrams Capital is inadequate and does not fairly value the Company.
About GenTek Inc.
GenTek provides specialty inorganic chemical products and services for treating water and wastewater, petroleum refining, and the manufacture of personal-care products, and valve-train systems and components for automotive engines. GenTek operates 50 manufacturing facilities and technical centers and has approximately 1,400 employees.
GenTek's 2,000-plus customers include many of the world's leading manufacturers of cars and trucks, and heavy equipment, in addition to global energy companies and makers of personal-care products. Additional information about the Company is available at the Company's web site: www.gentek-global.com.
Forward Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements, other than statements of historical facts, included herein may constitute forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, there can be no assurances that these assumptions and expectations will prove to have been correct. Important factors that could cause actual results to differ from these expectations include, among others, our outstanding indebtedness and leverage; the impact of the restrictions imposed by our indebtedness; our ability to fund and execute our business plan; potential adverse developments with respect to our liquidity or results of operations; the high degree of competition in certain of our businesses, and the potential for new competitors to enter into those businesses; continued or increased price pressure in our markets; customers and suppliers seeking contractual and credit terms less favorable to us; our ability to maintain customers and suppliers that are important to our operations; our ability to attract and retain new customers; the impact of possible substantial future cash funding requirements for our pension plans, including if investment returns on pension assets are lower than assumed; the impact of any possible failure to achieve targeted cost reductions; increases in the cost of raw materials, including energy and other inputs used to make our products; future modifications to existing laws and regulations affecting the environment, health and safety; discovery of unknown contingent liabilities, including environmental contamination at our facilities; suppliers' delays or inability to deliver key raw materials; breakdowns or closures of our or certain of our customers' plants or facilities; inability to obtain sufficient insurance coverage or the terms thereof; domestic and international economic conditions, fluctuations in interest rates and in foreign currency exchange rates; the cyclical nature of certain of our businesses and markets; the potential that actual results may differ from the estimates and assumptions used by management in the preparation of the consolidated financial statements; future technological advances which may affect our existing product lines; the potential exercise of our Tranche B and Tranche C warrants and other events could have a substantial dilutive effect on our common stock; and other risks detailed from time to time in our SEC reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur.
CONTACT: GenTek Inc.
Investor/Media Contact:
William E. Redmond
973-515-1821
IR@gentek-global.com
Source: PrimeNewswire (October 4, 2007 - 3:30 PM EDT)
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www.quotemedia.com
OptionMonster
17 years ago
GenTek Inc. Announces Voluntary Term Loan Prepayment
PARSIPPANY, N.J., Sept. 18, 2007 (PRIME NEWSWIRE) -- GenTek Inc. (Nasdaq:GETI) announced that it has prepaid an additional $3 million of its first lien term loan bringing cumulative prepayments of its term debt over the past three months to $20 million. This voluntary prepayment reduces the current balance outstanding on the first lien term loan to $247.8 million. The Company currently has no balance outstanding on its revolving credit facility.
"We continue our commitment to improve operating cash flow, reduce debt levels and drive value for our shareholders," said William E. Redmond, Jr., President and CEO of GenTek Inc. "The $20 million in prepayments made since July will result in annual interest savings of approximately $1.4 million."
About GenTek Inc.
GenTek provides specialty inorganic chemical products and services for treating water and wastewater, petroleum refining, and the manufacture of personal-care products, and valve-train systems and components for automotive engines. GenTek operates over 50 manufacturing facilities and technical centers and has approximately 1,500 employees.
GenTek's 2,000-plus customers include many of the world's leading manufacturers of cars and trucks, and heavy equipment, in addition to global energy companies and makers of personal-care products. Additional information about the Company is available at the Company's web site: www.gentek-global.com.
The GenTek Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3295
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements, other than statements of historical facts, included herein may constitute forward-looking statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, there can be no assurances that these assumptions and expectations will prove to have been correct. Important factors that could cause actual results to differ from these expectations include, among others, our outstanding indebtedness and leverage; the impact of the restrictions imposed by our indebtedness; our ability to fund and execute our business plan; potential adverse developments with respect to our liquidity or results of operations; the high degree of competition in certain of our businesses, and the potential for new competitors to enter into those businesses; continued or increased price pressure in our markets; customers and suppliers seeking contractual and credit terms less favorable to us; our ability to maintain customers and suppliers that are important to our operations; our ability to attract and retain new customers; the impact of possible substantial future cash funding requirements for our pension plans, including if investment returns on pension assets are lower than assumed; the impact of any possible failure to achieve targeted cost reductions; increases in the cost of raw materials, including energy and other inputs used to make our products; future modifications to existing laws and regulations affecting the environment, health and safety; discovery of unknown contingent liabilities, including environmental contamination at our facilities; suppliers' delays or inability to deliver key raw materials; breakdowns or closures of our or certain of our customers' plants or facilities; inability to obtain sufficient insurance coverage or the terms thereof; domestic and international economic conditions, fluctuations in interest rates and in foreign currency exchange rates; the cyclical nature of certain of our businesses and markets; the potential that actual results may differ from the estimates and assumptions used by management in the preparation of the consolidated financial statements; future technological advances which may affect our existing product lines; the potential exercise of our Tranche B and Tranche C warrants and other events could have a substantial dilutive effect on our common stock; and other risks detailed from time to time in our SEC reports. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur.
CONTACT: GenTek Inc.
Investor/Media Contact:
William E. Redmond, Jr.
973-515-1821
IR@gentek-global.com
Source: PrimeNewswire (September 18, 2007 - 11:52 AM EDT)
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www.quotemedia.com
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frenchee
17 years ago
