THREAD ALERT KYZN overlooked news. Book value of .46
Wednesday April 5, 7:31 am Eastern Time
Company Press Release
Kyzen Board Rejects Unsolicited Acquisition Proposal
Reaffirms Commitment to Long-Term Strategic Plan
NASHVILLE, Tenn.--(BUSINESS WIRE)--April 5, 2000--Kyzen Corp. (OTCBB:KYZN - news), a leading provider of CFC-free specialty chemicals and processes for precision cleaning applications in high-technology manufacturing, Wednesday announced that on March 21, 2000 it received an unsolicited acquisition proposal from Petroferm Inc., which is seeking to acquire Kyzen at a cash price of $1 per share.
Kyzen's board of directors met and thoroughly evaluated the offer in light of Kyzen's strategic business plan. The board unanimously concluded that Kyzen's shareholders should derive much greater value in the long term by continuing as an independent company than from selling to any third party at this time.
Consequently, the board of Kyzen notified Petroferm that Kyzen was not for sale at the present time.
Kyle Doyel, Kyzen's chief executive officer, noted ``It's clear that our business plan is working. By the end of this week we intend to announce our first quarter results, which will reflect record revenues and net income.'
Kyzen Corp. is a specialty chemical company focused on CFC-replacement chemistries and processes for electronic and other high technology industries where precision cleaning processes are required.
Kyzen strongly advises all of its shareholders to read Kyzen's statements in response to Petroferm's tender offer when such statements are available because they will contain important information.
Kyzen's statements may be obtained at no charge through the SEC's Web site at www.sec.gov or by
directing a request to: Kyzen Corp., 430 Harding Industrial Drive, Nashville, Tenn., 37211, Attn:
Investor Relations; telephone: 615/831-0888. In addition, shareholders are advised to consult any further
disclosures Kyzen may make on related subjects in its 10-QSB, 8-K and 10-KSB reports to the SEC.
The statements in this news release that relate to future plans, events or performance are
forward-looking statements that involve risks and uncertainties. Management has included in this news
release certain forward-looking statements within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. When used,
statements which are not historical in nature, including the words ``anticipate,' ``estimate,' ``should,'
``expect,' ``believe,' ``intend' and similar expressions are intended to identify forward-looking
statements. Such statements are, by their nature, subject to certain risks and uncertainties. Among the
factors that could cause actual results to differ materially from those projected are the following:
business conditions and the general economy as they affect interest rates; business conditions as they
affect manufacturers of chemical raw materials; the federal, state and local regulatory environment;
changes in the import and export rules, regulations and tariffs as they apply to countries where the
company conducts its business; the ability of the company to obtain financing or equity capital with
favorable terms and conditions; the availability of new expansion and acquisition opportunities; changes
in the financial condition or corporate strategy of the company's primary customers; and the ability of
the company to develop new competitive product lines. Actual results, events and performance may
differ materially from those projected. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. The company undertakes no
obligation to release publicly the results of any revisions to these forward-looking statements that may
be made to reflect events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Contact:
Kyzen Corp.
Tom Forsythe (investor relations), 615/831-0888 |
