Hercules Announces Strategic Path Forward

29-Nov-2000
Hercules Incorporated (NYSE: HPC) today confirmed that its Board of Directors, working with Goldman, Sachs & Co., has decided to consider the sale or merger of the Company. "I returned to Hercules in October at a critical time in the Company's history," said Chairman and Chief Executive Officer Thomas L. Gossage. "My focus has been on three priorities - debt refinancing, cash flow and strategic direction. We successfully completed the debt refinancing in mid-November and we are driving cash generation in the Company and in our core businesses. "After careful analysis and consideration, we believe that the best strategic path for the Company over the long-term is to become part of a larger enterprise. I am confident that moving forward on this path provides the maximum value and opportunity for our shareholders, employees and customers," Gossage said. Any decision to pursue a particular transaction would have to be considered and approved by the Hercules Board of Directors and there can be no assurance that any transaction will result from the process that is being undertaken.

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