American Pacific (APFC)-Specialty Chemicals Message Board

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Non-Tech : American Pacific (APFC)-Specialty Chemicals

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To: leigh aulper who started this subject	9/15/2000 9:02:38 AM
From: leigh aulper	of 326

American Pacific Reports Receipt of Claim Payment LAS VEGAS, Sept. 15 /PRNewswire/ -- American Pacific Corporation (Nasdaq: APFC) announced today that it had received a $3.0 million payment from Thiokol Propulsion, a division of Cordant Technologies, Inc. ("Thiokol"). As previously reported, in March 2000, the Company received notification from Thiokol of a change in the current fiscal year purchase order for ammonium perchlorate ("AP") that will result in a reduction in revenues of approximately $4.0 million in the fiscal year ending September 30, 2000. The change order allowed for a price adjustment claim which the Company submitted to Thiokol in June 2000. The Company negotiated and settled the claim with Thiokol which resulted in the $3.0 million payment. The payment will be reflected in operating income of the Company's specialty chemical segment in the fourth quarter of fiscal 2000 and will mitigate the impact of lower sales volumes of AP in this quarter.

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