Clorox Cancels Agreement With Bombril S.A.Business Editors OAKLAND, Calif.--(BUSINESS WIRE)--April 9, 2001 The Clorox Company (NYSE NYSE See: New York Stock Exchange :CLX (library, graphics) CLX - The Common Lisp library providing a low-level interface to the X Window System, equivalent to Xlib. Graphics toolkits can be built on top of CLX, e.g. McCLIM, Garnet, CLUE and CLIO. ) (PSE PSE 1. pale soft exudative pork. 2. portosystemic encephalopathy. :CLX) today announced it has exercised its right to terminate its agreement with Bombril S.A. On Jan. 24, 2001, Clorox announced that it had entered into an agreement to acquire a 50 percent stake in Detergentes Bombril S.A., a new venture to be formed by Clorox and Bombril S.A., which is the leading cleaning utensils and household cleaners business in Brazil. On April 5, 2001, Clorox notified Bombril S.A. that it was canceling the agreement, as various conditions of the transaction have not been satisfied. "We're very disappointed that this transaction did not move forward," said Clorox Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Craig Sullivan. "We remain committed to our growth strategy for Latin America. And we will continue to seek opportunities that allow us to invest in countries and businesses that offer the best potential for sales growth and profitability in our core product areas." The Clorox Company is a $4 billion, multinational manufacturer and marketer of household products and products for institutional markets. Except for historical information, matters discussed above, including statements about future growth, profitability, costs or expectations, are forward-looking statements based on management's estimates, assumptions and projections. Important factors that could cause results to differ materially from management's expectations are described in "Forward-Looking Statements and Risk Factors" and "Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operation" in the company's SEC Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ending June 30, 2000, as updated from time to time in the company's SEC filings. Those factors include, but are not limited to, marketplace conditions and events, the company's costs, risks inherent in litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. or international operations, the success of new products, integration of acquisitions, and environmental, regulatory and intellectual property matters. |
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