Industry News

Hercules Ends Talks with Eastman, Prepares for Q4 Report

Published on 2002-03-27. Author : SpecialChem

Hercules Inc. today announced that its profits from operations in the fourth quarter will be in the range of $68-$72 million. A slowing demand in a number of key markets and a stronger dollar versus the Euro impacted performance. Weakness developed in the latter weeks of the quarter due to several factors, including softness in paper, paint, construction markets and the steel industry; and to an unusual rate of customer defaults.

At the same time, the Company said that today it has ended discussions with Eastman Chemical Company on the divestiture of the majority of its Resins Division. Negotiations have also ended on the sale of the FiberVisions unit. Plans for these divisions will be reevaluated along with the Company's strategic path forward outlined in November 2000.

Results for the fourth quarter as well as full year 2000 will be announced on February 8.

Hercules manufactures chemical specialties used in making a variety of products for home, office and industrial markets.

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