Calgon Carbon Announces Conversion of Convertible Notes Into Common Stock.PITTSBURGH, Oct. 24 /PRNewswire-FirstCall/ -- Calgon Carbon Calgon Carbon Corporation is a Pittsburgh, Pennsylvania based company that offers products and services that remove contaminants and odors from liquids and gases. The company was originally formed as the Pittsburgh Coke & Chemical Company, which provided products that assisted with Corporation announced that holders of approximately $11.6 million aggregate principal amount of its outstanding 5.0% Senior Convertible Notes due 2036 (Notes) have exchanged their Notes into approximately 2.3 million shares of Calgon Carbon common stock in transactions that settled October 22 and 23, 2008. The exchanges combined with the prior Note exchanges and conversions of $55.2 million, leaves $8.2 million principal amount outstanding of the $75.0 million Notes originally issued in August 2006. Commenting on the announcement, Leroy M. Ball, Calgon Carbon's chief financial officer said, "We are pleased to be able to continue reducing our financial leverage in such a low cost manner. Creating this additional liquidity during a period of instability in the financial markets, puts Calgon Carbon in a strong position, and gives us greater financial flexibility to take advantage of opportunities as we embark on the heavier spending phase Spending Phase The period in a person's life following retirement in which earning income has come to a stop and the person is living off government subsidy, retirement plans, investments and/or money saved for retirement. of our strategic plan." Calgon Carbon Corporation, headquartered in Pittsburgh, Pennsylvania, is a global leader in services and solutions for making water and air safer and cleaner. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. This document contains certain statements that are forward-looking relative to the company's future strategy and performance. They involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to be materially different from any future performance. CONTACT: Gail Gerono, +1-412-787-6795, ggerono@calgoncarbon-us.com |
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