Rohm and Haas CEO Raj L. Gupta Addresses Sanford Berstein Conference

Chairman and CEO Raj L. Gupta said today that, once the global economies are back on track, the company's current portfolio of products is capable of generating annual sales growth of 5-6 percent.

Speaking at the Sanford Bernstein conference in New York City, Gupta noted that the company's ongoing investment in research and development, along with disciplined portfolio management, would enable the specialty materials company to grow consistently faster than the general economy.He said the current portfolio has the potential to generate between $350 million and $400 million in free cash flow (after capital spending and dividend payments to shareholders), along with a return on net assets in excess of 10 percent, above the company's cost of capital.

"We are committed to delivering unique and differentiating technology to the fastest-growing segments of the markets in which we compete," said Gupta. He said that strong market positions, the ability to bring new products to market and a continued emphasis on efficiency and process improvements would continue to be hallmarks of Rohm and Haas.

Gupta did not update the company's financial performance expectations for the quarter, but said that Rohm and Haas will provide more specific guidance about its second quarter performance in its regular quarterly update, which will be issued in late June.

This release includes forward-looking statements. Actual results could vary materially, due to changes in current expectations. The forward-looking statements contained in this announcement concerning demand for products and services, sales and earnings growth, and actions that may be taken to improve financial performance, involve risks and uncertainties and are subject to change based on various factors, including the impact of raw materials and natural gas, as well as other energy sources, and the ability to achieve price increases to offset such cost increases, development of operational efficiencies, changes in foreign currencies, changes in interest rates, the continued timely development and acceptance of new products and services, the impact of competitive products and pricing, and the impact of tax and other legislation and regulation in the jurisdictions in which the company operates. Further information about these risks can be found in the company's SEC 10-K filing of March 26, 2002 and 10-Q filing of May 15, 2002.

600450 Rohm and Haas CEO Raj L. Gupta Addresses Sanford Berstein Conference

See more news about:

Others also read

Apogee Enterprises Inc. reported level sales but an increase in earnings for the third quarter of its fiscal 2003. Bloomington-based Apogee, which makes glass products and services, said the earnings increase was mainly the result of improvements in its architectural glass business.
William A. Wulfsohn, vice president and general manager of Nylon System for Honeywell International, has been named vice president of European coatings for PPG Industries (NYSE:PPG) and managing director of PPG Europe. "Bill will play a vital role in helping our European coatings businesses achieve their full potential," said Michael A.
Bystronic is to take over Armatec Vierhaus GmbH with effect from 1 January 2003. For Bystronic, a global supplier of system solutions for the manufacture of architectural and automotive glass, the takeover of Armatec, which specialises in laminated safety glass and handling systems, ideally complements the Bystronic portfolio.
The butterflies at Melbourne Zoo have gone upmarket with a new accommodation wing featuring Pilkington glass.
Owens-Brockway Glass Container Inc., an indirect wholly-owned subsidiary of Owens-Illinois, Inc., (NYSE: OI) announced today that is has closed on the sale of $175 million principal amount of its 8-3/4% Senior Secured Notes due November 15, 2012.
Southwall Technologies Inc. (NASDAQ: SWTX), a global developer, manufacturer and marketer of thin-film coatings for the automotive glass, electronic display and architectural markets, has named Michael E.

Add new comment