UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
SCHEDULE 14A
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Hercules Incorporated
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HERCULES WINS U.S. COURT REVERSAL
ON ENVIRONMENTAL CLEAN-UP COSTS
Wilmington, DE, April 10, 2001 ... Hercules Incorporated (NYSE: HPC) announced
today that the United States Court of Appeals for the Eighth Circuit has
reversed an earlier District Court judgment that held the Company liable for
approximately $100 million in remediation costs at a Jacksonville, Arkansas
site. In vacating the judgment, the Appeals Court remanded the case back to the
United States District Court for the Eastern District of Arkansas to determine
the extent, if any, of the Company's responsibility.
"We are extremely pleased with today's ruling," said Israel J. Floyd, executive
vice president and general counsel for Hercules Incorporated. "We believe
strongly that Hercules should not be held jointly and severally liable for the
costs at issue. We look forward to presenting evidence showing that the costs
were unrelated to our actions."
Floyd added, "The Court of Appeals essentially agreed with arguments that
Hercules has pressed unsuccessfully in the District Court for over eight years."
Hercules manufactures and markets chemical specialties globally for making a
variety of products for home, office and industrial markets. For more
information, visit the Hercules website at www.herc.com.
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2
This news release includes forward-looking statements, as defined in the Private
Securities Litigation Reform Act of 1995, reflecting management's current
analysis and expectations, based on reasonable assumptions. Results could differ
materially depending on such factors as business climate, economic and
competitive uncertainties, failure to complete transactions adverse legal and
regulatory developments, and adverse changes in economic and political climates
around the world. As appropriate, additional factors are contained in reports
filed with the Securities and Exchange Commission. Readers are cautioned not to
place undue reliance on these forward-looking statements, which speak only as of
the date of this press release. This paragraph is included to provide safe
harbor for forward-looking statements, which are not required to be publicly
revised as circumstances change.
Hercules filed a preliminary proxy statement with the United States Securities
and Exchange Commission on March 12, 2001, as amended on March 16, 2001,
March 26, 2001, and April 4, 2001, in connection with its 2001 annual meeting of
shareholders. Information regarding the identity of the persons who may, under
SEC rules, be deemed to be participants in the solicitation of Hercules
shareholders for the 2001 annual meeting, and their interests in the
solicitations, are set forth in the preliminary proxy statement. Hercules will
be filing a definitive proxy statement and other relevant documents. WE URGE
INVESTORS TO READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS TO BE FILED WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION. Security holders may obtain a free copy of the proxy statement and
other related documents filed by Hercules at the Commission's website at
www.sec.gov or at the Commission's public reference room located at 450 Fifth
Street, NW, Washington D.C 20549 or at one of the Commission's other public
reference rooms in New York, New York and Chicago, Illinois. Please call the
Commission at 1-800-SEC-0330 for further information on the public reference
rooms. When available, the definitive proxy statement and the other documents
may also be obtained from Hercules by contacting Hercules Incorporated,
Attention: Allen Spizzo, Hercules Plaza, 1313 North Market Street, Wilmington,
DE 19894-0001.
Investor Contact: Allen A. Spizzo (302) 594-6491
Media Contact: John S. Riley (302) 594-5252