CPC INT'L. BOARD AUTHORIZES BUYBACK OF UP TO 5 MILLION SHARES.ENGLEWOOD CLIFFS, N.J.--(BUSINESS WIRE)--January 17, 1995--The Board of Directors of CPC (1) (Central Processing Complex) An IBM mainframe that has two or more central processors (CPs) that share memory. It is the collection of processors, memory and I/O subsystems manufactured with a single serial number, typically all contained in one cabinet. International Inc. has authorized the purchase by the company of up to 5 million of its outstanding shares of common stock. This program is to begin upon completion of an existing program for the purchase of 4 million shares, announced by the company in October 1993 and expected to be concluded during the first half of 1995. There were about 147 million shares of CPC common stock outstanding on December 31, 1994. The company said that shares under the new program will be purchased from time to time over a three-year period, as determined by management. ABOUT CPC INTERNATIONAL: With sales in 1993 of $6.7 billion, CPC International Inc. is among the ten largest U.S. food companies and ranks as one of the 100 largest industrial companies in the U.S. Consumer foods account for 84% of the company's total sales. Best known among CPC's U.S. products are: Hellmann's and Best Foods Hellmann's and Best Foods are brand names that are used for the same line of mayonnaise and other food products. The Hellmann's brand is sold in the United States east of the Rocky Mountains, and also in Latin America, Europe, and Canada. mayonnaise, Mazola corn oil corn oil n. A pale yellow liquid obtained from the embryos of corn grains, used especially as a cooking and salad oil and in the manufacture of margarines. Noun 1. and margarine, Skippy peanut butter, Thomas' English muffins, Arnold breads, Mueller's pasta products, Karo KARO Kane Amateur Radio Operators (Kane, PA) syrup, and Knorr sauces, soups, and bouillons. Deriving more than 60% of its sales from operations outside the U.S., CPC is one of the nation's most international food companies. CPC is also one of the largest corn refiners, with operations in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Latin America. Worldwide, CPC International has operations in 59 countries. CONTACT: CPC International Inc. Media Contact: Gale Griffin, Director Corporate Communications 201/894-2407 Analyst Contact: John W. Scott, V.P. Investor Relations Investor relations The process by which the corporation communicates with its investors. 201/894-2837 |
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