Crompton Reports Sales and Total Debt/Announces Fourth Quarter Conference Call.Business Editors GREENWICH, Conn.--(BUSINESS WIRE)--Jan. 7, 2002 Crompton Corporation Crompton Corporation, formerly Crompton and Knowles, is a chemical research, production, sales and distribution company headquartered in Middlebury, Connecticut. The company produces specialty chemicals used for polymers, fire suppressants and retardants, pool and spa water (NYSE NYSE See: New York Stock Exchange : CK) today reported that sales for the fourth quarter of 2001 were approximately $600 million, down sequentially from $652 million in the third quarter of 2001. Sales were impacted by continued weak demand and year-end customer inventory adjustments. The company did not provide an earnings estimate but did indicate that the gross margin percentage for the fourth quarter will be weaker than the third quarter due to the seasonal impact of the crop protection business and lower plant throughput The speed with which a computer processes data. It is a combination of internal processing speed, peripheral speeds (I/O) and the efficiency of the operating system and other system software all working together. 1. . The company continues to place strong emphasis on cash flow and reported that total debt at year-end was approximately $1.42 billion, down approximately $50 million from the end of the third quarter and down approximately $80 million from the end of 2000. Crompton will issue final results for the year after 4 p.m. on January 31, 2002 and will hold a conference call at 9:00 a.m. on the morning of February 1, 2002. To participate in the third quarter conference call, dial 1-719-457-2692. Live audio is available on Crompton's investor relations Investor relations The process by which the corporation communicates with its investors. page at www.cromptoncorp.com. Replay of the conference call will be available for two weeks beginning at 2:00 p.m., Friday, February 1, by calling 1-719-457-0820, access code 466572. Crompton Corporation is a $2.7 billion global producer and marketer of specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. and polymer products and equipment. Certain statements made in this release are 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. that involve risks and uncertainties, including, but not limited to, general economic conditions, energy and raw material prices and availability, production capacity, changes in interest rates and foreign currency exchange rates, changes in technology, market demand and customer requirements, expected restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). activities and cost reductions, the enactment of more stringent environmental laws and regulations, and other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. These statements are based on currently available information and the Company's actual results may differ significantly from the results discussed. Forward-looking information is intended to reflect opinions as of the date this release was issued and such information will not necessarily be updated by the Company. |
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