Calgon Carbon Corporation Announces Conference Call.PITTSBURGH--(BUSINESS WIRE)--Nov. 23, 1999-- 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 Conference Call - Tuesday, November 23, 1999 Strategic Plan Review - Media Calgon Carbon Corporation has scheduled a conference call for Tuesday, November 23, at 11:00 A.M. Eastern Time. Jim Cederna, Calgon Carbon's president and chief executive officer, and Bill Cann, its chief financial officer, will discuss Calgon Carbon's strategic plan. If you would like to participate in the conference call, please phone (719)457-2629 shortly before the scheduled start time. The confirmation code for the call is 840871. No rebroadcast has been scheduled. Gail Gerono Director, Investor Relations Investor relations The process by which the corporation communicates with its investors. News release follows: CALGON CARBON - RENEWING THE VALUE OF A LEADER -0-
Financial Results
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Satisfied World-Class
Customers Operations
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Productive Work Capable Team of Clear Plan for
Environment People Growth
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Company Core Values/Culture
Trust & Teamwork
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Calgon Carbon Corporation (CCC CCC A very speculative grade assigned to a debt obligation by a rating agency. Such a rating indicates default or considerable doubt that interest will be paid or principal repaid. Also called Caa. ) announced the completion of its long-term strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. process. By completing the "Clear Plan for Growth" portion of its transformation model, the company has put in place another fundamental piece required to reach its goal of renewing CCC's value as a leader. The new strategy transforms CCC from a product to a service company. The company is positioned for significant long-term growth in Economic Profit and earnings per share. CCC management followed a disciplined planning process over a six-month period. Conclusions were reached by studying in great detail the nearly 50 different business segments that make up the company. New techniques were used to define the best alternatives to maximize value growth for shareholders over the long term. Many CCC employees and outside experts were involved to complete the analysis and develop the strategy. The strategic plan calls for lowering costs to serve activated carbon markets; investing to grow the company's service and solutions businesses; and repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery. CCC's proven technologies to bring more value to consumers. In order to achieve these goals, CCC will be reorganized as a globally integrated company with an emphasis on providing value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. service to customers. As part of the strategy, some activated carbon production capacity will be permanently shut down in the U.S. The company, in Europe, subject to negotiations with the appropriate Works Council Noun 1. works council - (chiefly Brit) a council representing employer and employees of a plant or business to discuss working conditions etc; also: a committee representing the workers elected to negotiate with management about grievances and wages etc and pursuant to applicable legal requirements, also intends to curtail production. Operations at several offices will also be consolidated to gain global productivity and centralize cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. processes to promote corporate-wide sharing of technical, operational and financial information. CCC is also adopting a performance-based compensation program which is designed to reward individual and team performance for successful implementation of the company's strategic plan. The implementation of the new strategy will occur in two phases. This is the first in a series of communications referencing the strategy to share more details with all CCC stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. . By year-end, the leadership team will be selected, and the fundamental "capable team of people" piece of the transformation model will be completed. Next year, employees will assume their new responsibilities, and changes necessary to fully implement the plan will be made. The successful implementation of the new strategy will have a short- and long-term financial impact on the company. In the fourth quarter, Calgon Carbon will take a restructuring charge restructuring charge The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. of up to $39 million. However, the negative financial impact in the short-term will position the company to achieve breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations Economic Profit and significant earnings growth within three years. Commenting on the announcement, Jim Cederna, Calgon Carbon's president and chief executive officer, said, "Successful implementation of our new strategy will require significant change throughout Calgon Carbon. By growing trust and teamwork as CCC's core values, we have laid the foundation for rapid change throughout our global company. Our people are now ready to lead the changes required to renew our value as a leader. We have used an excellent learning process to develop a strategic plan that will enable us to create an exciting future for CCC. As we carry out the plan, we are confident that we will create significant value for both our customers and our shareholders." Calgon Carbon Corporation (www.calgoncarbon.com), headquartered in Pittsburgh, Pennsylvania “Pittsburgh” redirects here. For the region, see Pittsburgh Metropolitan Area. Pittsburgh (pronounced IPA: /ˈpɪtsbɚg/) is the second largest city in the Commonwealth of Pennsylvania. , is a global leader in the production, supply, and design of products, services, and technologies for making air and water cleaner and safer. The company employs 1,100 people with 11 facilities in six countries and 12 sales offices serving customers worldwide. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . This document contains certain statements that may be 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 suggested in this document. Further, the company operates in an industry where it may be influenced by economic and other factors beyond the company's control. |
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