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BUILDING SHAREHOLDER VALUE THROUGH GLOBALIZATION REMAINS THEME, WITCO'S SHAREHOLDERS TOLD

 BUILDING SHAREHOLDER VALUE THROUGH GLOBALIZATION REMAINS THEME,
 WITCO'S SHAREHOLDERS TOLD
 NEW YORK, April 22 /PRNewswire/ -- Shareholders who attended Witco Corporation's (NYSE: WIT) annual meeting, held today in New York City, were told by the company's Chairman and Chief Executive Officer William R. Toller that progress had been made in the globalization of the company's business.
 "One of Witco's great strengths is its ability to serve world markets from 55 plants well positioned in 8 countries around the world," Toller said. "Where we do not have facilities to serve markets which we feel have the greatest potential for us, we are actively pursuing acquisitions or joint ventures. We have streamlined our international marketing and purchasing efforts and we are looking at all of our business on a global scale."
 "Our pledge made last year of $2 billion in sales and a minimum return on equity of 16 percent by 1995 has been renewed and our basic concern of providing shareholder value remains unchanged," Toller continued. "We're optimistic about reaching these goals. Witco's annual return to investors over a 10 year period was 19.8 percent while the industry average, according to a recent Fortune magazine article, was 17.2 percent. We have the additional advantage of a management team that can boast of a 27 year average length of service and who have, over the last year, increased their own ownership stake in Witco by about 23 percent. These are executives who know the business and all the players in that business."
 Witco President Denis Andreuzzi said the company's policy of investing to maintain efficient plants with modern technology remains unchanged. "We believe a number of elements are necessary in today's competitive climate: modern, efficient infrastructure; safe and responsible operations of that infrastructure; and Total Quality Management by all concerned. We support our goals with actions," he said. "We have budgeted $90 million for capital improvements in 1992; 1991 saw a new record of safety achievement; and each division and staff function is, or will soon be, involved in total quality management training."
 In business conducted at the meeting, shareholders re-elected five directors for three-year terms and elected a new director, Richard M. Hayden, a partner of Goldman, Sachs & Co., investment bankers in New York City, for a two-year term. Shareholders also approved the adoption of the 1992 Stock Option Plan for Employees.
 Witco manufactures specialty chemical and petroleum products and engineered materials with annual sales of more than $1.6 billion.
 -0- 4/22/92
 /CONTACT: C.R. Soderlind, 212-605-3813, or S.L. Levy, 212-605-3815, both of Witco/
 (WIT) CO: Witco Corporation ST: New York IN: CHM SU:


SM-OS -- NY090 -- 1403 04/22/92 15:31 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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