28 and $0.3% as compared with 52.
The Company expects seasonality
will continue to be a significant
factor and that potential sales and earnings increases are likely
to
occur in the second half of 2005.23, respectively. Based on
current sales and margin estimates
and the expected timing of
integration cost savings, the Company currently expects that full year
2005 diluted earnings per share will range from $2. These statements may be
identified by the
use of forward-looking words or phrases such as
"anticipate,'' "believe,'' "could,'' "expect,''
"intend,'' "may,''
"planned,'' "potential,'' "should,'' "will,'' "would'' or the negative
of those
terms or other words of similar meaning.90 $1.
intended creations
4 million or $2.4 million from $310.0%.7% for
2003 primarily reflecting the inclusion of the fourth quarter
non-recurring charges.
"While
our overall 2004 results did not meet our expectations, we
were pleased with certain aspects of our
sales performance which
demonstrated positive trends despite the difficult retail environment. This
information should be considered in addition to the
results prepared in accordance with GAAP, and
should not be considered
a substitute for the GAAP results. Britain(R).25
Diluted
$0.newscom.battletech miniatures
Results for 2004 include Playing
Mantis, Inc.
Fourth Quarter Operating Results
The fourth quarter net sales increase was primarily attributable
to the addition of Playing
Mantis and The First Years.5 million in fourth quarter non-recurring charges detailed above,
was
$65.
RC2 Corporation and Subsidiaries
Reconciliation of Diluted
Earnings Per Share
Quarter Ended December 31, Year Ended December 31,
2004 2003 2004 2003
----------
--- ----------------------- ------------
(unaudited) (unaudited) (unaudited
) (unaudited)
As reported $0.79 $0.----GE Commercial
Finance Business
Credit announced that it has arranged a $14. Products and services
include asset-based lines of credit
, letter of credit facilities,
acquisition financing, growth capital, bank loan refinancings, term
debt and import/export trade services. Now, this technology will be available to the collision
repair
industry with the launch of the PLIOGRIP(R) by Valvoline body repair
system from Ashland. "PLIOGRIP
by Valvoline is a user-
friendly system that has multiple competitive advantages including faster
cure
times and excellent finishing qualities., is a leading,
worldwide supplier of specialty chemicals
serving industries including
adhesives, automotive, composites, metal casting, merchant marine, paint
,
paper, plastics, watercraft and water treatment.ashland.creations creators
Business Editors
OAK BROOK
, Ill.3% to $140. Net sales for
the 2004 year increased 22. Pro forma net sales of $489.2% for 2004
as compared with 33. As noted
in our Form 8-K filed on July 12, 2004, pro forma (assuming that The
First Years acquisition occurred as of the beginning of the period)
net sales and diluted earnings
per share in the first quarter of 2004
were approximately $98. Management believes that the presentation
of these
non-GAAP financial measures provides useful information to investors
because this information
may allow investors to better evaluate
ongoing business performance and certain components of the
Company's
results.
Forward Looking Statements
Certain statements contained in this
release contain
"forward-looking statements" within the meaning of the Private
Securities Litigation
Reform Act of 1995.03 (0.
"We wanted to work with a lender that can provide us with enhanced
financing flexibility and with whom we can grow as our companies seek
new opportunities to expand
our operations and market reach," said
Darius A.waterslide bedlam
8%. We also launched an all new American Chopper
/ Orange
County Chopper product line, grew our already strong Thomas and
Friends and John Deere
product lines and developed a compelling
offering of all new Bob the Builder preschool toy products
which are
set to launch in 2005.detailing waterslide
6
million or $0.1%
versus the prior year reported fourth quarter
net sales.4% versus pro forma net
sales for 2003.7 million, were $468.6 million or 20.0 million on
September 30, 2004 and
its year end cash balances exceeded $20 million. During the fourth quarter
we
discontinued a number of low-performing product lines and sales
activities which will allow
us to focus on more profitable areas which
have greater growth potential. Due to the elimination
of certain
product lines and of trackside event sales and integration activities
during the current
quarter, the Company believes that net sales and
diluted earnings per share for the first quarter
of 2005 could be
lower than pro forma results for the first quarter of 2004.
The after-tax impact
of this new stock option accounting rule for the
full years of 2004 and 2005 is estimated to be approximately
$0.vcall.12
Weighted average
shares
outstanding
Basic 20,413
17,277 18,687 17,060
Diluted 21,418 18,396 19,761 18
,105
Selected Consolidated Balance Sheet Data
December 31, 2004 September 30, 2004 December 31, 2003
----------------- ------
------------ -----------------
(Unaudited) (Unaudited) (Unaudited
)
Cash and cash
equivalents $20,123 $25,128 $16,548
Trade
accounts
receivable, net 93,616 100,968 72,165
Inventory
55,023 71,519 37,464
Accounts payable
and accrued
expenses
64,040 77,683 48,179
Line of credit 50,000
80,000 35,000
Term loan 81,250 85,000 50
,000
Stockholders'
equity $346,762 $331,977 $225,299
General
Notes:
(a) Results for 2003 include Learning Curve from March 1, 2003."
"We know the metals
industry well, and are very comfortable with
its fundamentals and prospects," said Craig W.com
GE
Commercial Finance, which offers businesses around the globe an
array of financial products and services
, has assets of over $230
billion and is headquartered in Stamford, Connecticut.ge.
(Logo:
http://www.pliogripbyvalvoline. (NYSE: ASH) is a Fortune 500 chemical and transportation
construction
company providing products, services and customer solutions
throughout the world.This category is
intended for listing the manufacturers of accessory or complimentary products, such as paint sets, detailing
kits or machined or etched products.
instead miniatures
7 million, net of
estimated income tax benefits, to write off
intangible license and
trademark assets recorded at the time of the Learning Curve
acquisition
.
Fourth quarter net sales increased 39.7% of net sales.1% for the 2003 year, due to increased
product
and freight costs, a less favorable product sales mix, the
fourth quarter charges detailed above
and the impact of sales from
recently acquired companies which generally carry lower gross profit
margins than historical RC2 products.3 million compared with $165. The Company has reconciled the
non-GAAP financial information included in this release to the nearest
GAAP measure in context
.
Company Description
RC2 Corporation (www.com) is a leading designer, producer
and
marketer of innovative, high-quality toys, collectibles, hobby and
infant care products that are
targeted to consumers of all ages.72 $2. 31, 2003
----------------------------
------------------------------
Net sales by
Category:
Collectible
products $44
,199 $44,081 $154,838 $163,355
Children's
toys 57,125 49
,582 166,406 128,715
Infant
products 39,113 7,160 60,181
18,876
----------------------------------------------------------
Net
sales $140,437 $100,824 $381,425 $310,946
Net sales by
Channel:
Chain
retailers $85,576 $51,902 $199,637 $151,883
Specialty
and
hobby
wholesalers
and
retailers 32,677 26,596 116,519 91,721
OEM dealers 13,120 14,866 37,810 38,613
Corporate
promotional
6,811 5,379 18,216 17,842
Direct to
consumers 2,253
2,081 9,243 10,887
-----------------------------------------
-----------------
Net
sales $140,437 $100,824 $381,425 $310,946
Kempton, vice
president, GE Commercial Finance Business Credit.
Combining the innovative
technology and engineering of Ashland Specialty
Chemical with Valvoline's 130-years of experience
in the transportation
industry, PLIOGRIP by Valvoline products deliver unmatched performance in both
bonding and repair to today's body shop professionals.compound casting
In addition, charges to write-off undepreciated
tooling
costs and fixed assets and to provide inventory and royalty reserves
related to the discontinued
product lines and trackside sales
distribution totaled approximately $2. (Learning Curve) from March
1, 2003.5
million for the year ended 2004, assuming that the Playing Mantis and
The First Years
acquisitions occurred as of January 1, 2004, less net
sales from discontinued product lines and NASCAR
trackside events
totaling $20."
Financial Outlook
Pro forma sales excluding discontinued
product lines and trackside
event sales totaled $468.
EPS:
Net income per
share
Basic $0.51 $0.12
Tax adjustments 0.09) 0.02 $1
.paint alumilite
Net
income for the year ended December 31, 2004 was $34.30 for the fourth quarter and year ended
December 31,
2004, respectively. Net sales for the 2004 year excluding the two 2004
acquisitions
increased by approximately 1.6% of
net sales from $20.0% of net sales for the year ended December
31, 2004 as
compared with $57.
"While the Company experienced lower profit margins in 2004 due
to
higher costs, product mix changes and the impact of the 2004
acquisitions, the Company is planning
to implement selective price
increases throughout 2005, which are expected to offset higher product
costs. RC2's
infant and preschool products are marketed under its Learning Curve(R)
family
of brands which includes The First Years(R), Eden(R) and Lamaze
brands as well as popular and classic
licensed properties such as
Thomas and Friends, Bob the Builder, Winnie the Pooh, John Deere and
Sesame Street.25 - 0.
Business Editors
Resending - corrects the URL in
the second graf
NORWALK, Conn.miniatures miniature
Selling,
general and administrative expenses as a percentage
of net sales
increased to 32.0% in the fourth quarter of 2004 compared with 31. In 2004, we were
challenged by rising input
costs, increased seasonality and declining sales in collectible
vehicles
.
We had solid sales growth in a number of key chain accounts and
achieved growth in some of our
non-chain channels including specialty
and hobby and corporate and promotional.50,
excluding any
impact from the valuation of intangibles from the two
2004 acquisitions which is expected to be completed
by the third
quarter of 2005 and the impact of expensing stock options under the
new accounting
rules which are schedule to take effect in July 2005.0
million for the years ended December 31
, 2004 and 2003,
respectively.8 million revolving loan and a $3.
"Our PLIOGRIP adhesives
have been the OEM standard in transportation for
high-performance structural bonding for more than
three decades," said
Marcello Boldrini, vice president, Ashland Specialty Chemical, and general
manager
, Specialty Polymers + Adhesives."
Products will be made available to body shop professionals
through paint
jobbers and distributors throughout the United States and Canada.casting liquid
19 per diluted share
, respectively, as a result of a
reduction in the income tax provision.
Year to Date Operating
Results
The net sales increase for the year was primarily attributable to
the addition of
Learning Curve for twelve months of 2004 compared with
only ten months in 2003, as well as the addition
of Playing Mantis and
The First Years as of the respective effective dates of closing such
acquisitions
in 2004. Net sales increases occurred in the children's
toys and infant products categories, but
were partially offset by a
decrease in the collectible products category.2% of net sales. Additionally
, our recent investments to expand and modernize
our distribution facilitates should ultimately lower
supply chain
costs while increasing our capacity. RC2 markets its collectible and hobby products
under a
portfolio of brands including Racing Champions(R), Ertl(R), Ertl
Collectibles(R), American
Muscle(TM), Johnny Lightning(R), AMT(R),
Polar Lights(R), Press Pass(R), JoyRide(R), JoyRide Studios
(R), Memory
Lane(TM), and W.0 million and $3.1
million for the quarters ended December 31,
2004 and 2003,
respectively.waterslide creators
Sales increases
occurred in all three of our product categories
, (refer to the
attached supplemental sales reporting schedule), with 15.3
million or 15.4% of
net sales for the year ended
December 31, 2003.
"Much of the year was focused on the integration
of the two
acquisitions which has proceeded as we planned and is expected to
reflect over $10
million in cost savings in 2005.
"We've leveraged our capabilities across the divisions that
make up
Ashland's Chemical Sector to manufacture, market and distribute a complete
product line
that sets a new standard for performance in the collision repair
industry," said Gary A. For more
information on the PLIOGRIP by Valvoline body repair system from Ashland,
please visit http:/
/www.com to
learn more about these operations.
Ashland Inc.retailers waterslide
In December, the Company recorded
a
non-cash impairment charge of approximately $2. (Playing Mantis) from June 1, 2004 and The First
Years
Inc. From this base level of 2004 sales, the Company expects overall
sales growth in 2005
based on anticipated sales increases in its
children's toys and infant products categories and anticipated
flat to
slightly declining sales in its collectible products category. Such forward-looking
statements
are inherently subject to known and unknown risks and
uncertainties.GE Commercial Finance Arranges
$14.9 Million Credit Facility for American Aluminum Extrusion LLC and American Aluminum Extrusions of
Ohio LLC
Cappeline, president and chief operating officer of
the Chemical Sector of Ashland Inc
. To learn more about Ashland, visit http://www.
Retailers, distributors, online stores and
wholesalers should be submitted to the Shopping/Toys and Games/Games/Miniatures category instead.
copying paint
--
--RC2 Corporation
(NASDAQ:RCRC) today announced its results for the fourth quarter and
year ended
December 31, 2004.
Results for the fourth quarter and the year ended December 31,
2004 were negatively
impacted by the Company's decision to discontinue
certain low-performing product lines as well as
its distribution at
NASCAR trackside sales events.1 million or 13.2 million or 18.
Balance
Sheet Update
The Company has continued to generate strong cash flow and has
reduced its debt
by $33. We estimate that
cost savings realized in the results for the fourth quarter of 2004
was
approximately $2.
"Looking forward, we remain excited about 2005 and about our
opportunities in
2006 and beyond. Such uncertainties and other
operational matters are discussed further in the Company
's quarterly
and annual filings with the Securities and Exchange Commission.
Depreciation expense
was approximately $15.76 $2."
About GE Commercial Finance Business Credit
GE Commercial
Finance Business Credit offers financing of up to
$30 million and more, as needed, to manufacturers
, distributors,
wholesalers, retailers and service providers.paint bedlam
In the fourth quarter the Company also
recorded an
adjustment to the income tax provision of approximately $598,000 or
$0. Results for
2003
include Learning Curve International, Inc.4 million
compared with $100.8 million for the
fourth quarter a year ago. Operating income decreased 7.m. As these acquisitions were
accounted
for using the purchase method, periods prior to the
acqusition effective date do not include
any results for Learning
Curve, Playing Mantis or The First Years. For more information on the
businesses and products of Business Credit, please visit
www.compound resin
The Company expects
to make additional
debt payments in the first quarter of 2005 of over
$20 million. To listen
to the live call, go
to www.85 $1.16)
Non-recurring
charges for
discontinued
products
0. 31, 2003 Dec. 31, 2004 Dec. (NYSE: ASH) have been the
technology of choice for the world
's leading automotive original equipment
manufacturers (OEMs).etched bedlam
51
per diluted share in the 2004
fourth quarter as compared with $15. The increase in the collectible products
category can be primarily
attributed to the impact of the Playing
Mantis acquisition and positive results from the American
Chopper /
Orange County Chopper product line. Gross margin in the fourth
quarter of 2004, excluding
approximately $3. Despite the
increases from the Playing Mantis acquisition and the positive results
from the new American Chopper / Orange County Chopper product line,
sales in the collectible products
category decreased due to the
continued softness in the vehicle replica product lines including
difficult
comparisons with The Fast and The Furious product line sales
last year and the continuing decline
in NASCAR product sales.0 million in fourth quarter non-recurring charges was
approximately 50. Selling
, general and administrative expenses as a
percentage of net sales were 34. The Company completed
two strategic acquisitions, which
increased our presence in the growing less-seasonal infant products
industry, added depth in our collectible products category, increased
our retail shelf space and
added sustainable proprietary brands to our
portfolio.4 million and $0.09 to
$0.
Use of
Non-GAAP Financial Information
In addition to the results reported in accordance with accounting
principles generally accepted in the United States ("GAAP") included
in this release, the Company
has provided certain non-GAAP financial
information, including net sales information excluding the
acquisitions of The First Years and Playing Mantis, pro forma net
sales excluding net sales from
discontinued product lines and NASCAR
trackside events, gross margins and operating income excluding
non-recurring charges, and the attached Diluted Earnings Per Share
Reconciliation.
(b)
Certain prior year amounts have been reclassified to conform to
the current year presentation
.85 $1.19)
Pro Forma LCI full
Year - - -
(0. "GE Commercial Finance Corporate
Lending offered us these key attributes as well as a depth
of
financing experience and expertise that demonstrates long-term market
commitment and a true
relationship orientation. General
Electric (NYSE: GE) is a diversified technology, media and financial
services company dedicated to creating products that make life better.Ashland Launches PLIOGRIP(R
) by Valvoline Body Repair System for Collision Repair Industry
ashspec.machined decals
0 million or $1.72
per
diluted share as compared with $38.12 per diluted
share for the year ended December 31, 2003.
The
increase in the infant products category is due to inclusion of
The First Years acquisition.5%, due
to the
non-recurring charge mentioned above, increased product costs, a less
favorable product
sales mix in the current year's fourth quarter
versus the prior year's fourth quarter and the impact
of sales from
recently acquired companies which generally carry lower gross profit
margins than
historical RC2 products.7 million or 17.7 million during the fourth quarter of 2004.
Earnings
Conference Call Information
The Company's quarterly earnings conference call will be held at
4:45 p.gelending.
(R) Registered trademark, Ashland
creators waterslide
RC2 Corporation Reports
2004 Fourth Quarter and Full Year Results
85 per diluted share in the year ago fourth quarter.03
per diluted share.09 and $0.9 million
for 2003. Pro forma net sales for 2003 assume that the Learning
Curve acquisition, which had an effective date of March 1, 2003,
occurred as of the beginning
of 2003.) The increase in the children's
toy category can be primarily attributed to the Thomas
+ Friends and
John Deere ride-on and toy vehicles product lines.
On December 31, 2004, the Company
's outstanding debt balance was
$131. We expect operating results in 2005 to
progressively improve
and look forward to reporting our progress as we
move through the year. For those who cannot listen
to the live
broadcast, replays will be available shortly after the call on CCBN
and VCALL.1 million
term loan.
For more information, visit the company's website at www.alumilite liquid
Operating income in the fourth
quarter of 2004,
excluding approximately $8.
Commentary
Curt Stoelting, CEO of RC2
commented, "2004 was a very active year
for RC2. Finally, our children's toy and infant
products
categories both posted strong pro forma growth in 2004 and we
expect these trends to continue in
2005.com at
least fifteen minutes early to register, download and install any
necessary audio
software.3 million and $12.53 $0. 31, 2004 Dec. Szczekocki, president.
Ashland Specialty
Chemical, a division of Ashland Inc.com.etched intended
8 million. (Refer to the attached
supplemental sales reporting
schedule. These integration efforts have enabled RC2 to build a
platform which we believe will support
growth and expansion in both
our infant products and children's toy categories.8 million with each
of the Company's three
product categories accounting for approximately one-third of this
total
.12 per diluted share in each year. The Company's actual results and future developments
could differ
materially from the results or developments expressed in,
or implied by, these forward-looking statements
. "We're very pleased
to have the opportunity to support the growth strategies of these two
companies
, and look forward to a continued relationship.creations alumilite
(The First Years) from September 16, 2004.
Gross margin
decreased to 45.1%
in the fourth quarter of 2003 primarily driven by the fourth quarter
charges
detailed above, which were somewhat offset by the favorable
impact from initial integration cost
savings realized during the
quarter. Operating income in 2004, excluding approximately
$8.
-Tables to Follow-
RC2 Corporation and Subsidiaries
Consolidated Statements of Earnings
(In thousands, except per share data)
Quarter ended December 31, Year ended December 31,
--
--------------------------- -----------------------
2004 2003
2004 2003
----------- ------------- ----------- -----------
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
Net sales $140
,437 $100,824 $381,425 $310,946
Cost of sales
(1) 76,262
48,892 193,497 148,908
----------- ------------- -----------
-----------
Gross profit 64,175 51,932 187,928 162,038
Selling, general
and
administrative
expenses(1) 44,945 31,314 130,583 104,794
Amortization of
intangible
assets 94 30 94
30
----------- ------------- ----------- -----------
Operating income
19,136 20,588 57,251 57,214
Interest
expense, net 1,598
984 4,063 3,477
Other expense
(income) (78) (264
) (508) (145)
----------- ------------- ----------- -----------
Income before
income taxes 17,616 19,868 53,696 53,882
Income
tax
expense 6,729 4,256 19,718 15,465
---
-------- ------------- ----------- -----------
Net income $10,887 $15,612
$33,978 $38,417
=========== ============= =========== ===========
(1) Depreciation expense was approximately $6.82 $2.27 -
------------- ------------------------ -----------
As adjusted $0.americanaluminum
.com
com or call 1-800-PLIOGRIP. Visit http://www.etched bedlam
9 million or $0.7 million, net of income
tax
benefits. Net income per diluted share for the fourth
quarter and the year ended December
31, 2003 was positively impacted
by $0.7% to $381.0 million in fourth
quarter non-recurring charges
detailed above was 47.5 million in fourth quarter non-recurring
charges detailed above, was $27.6
million or 19.
The gross margin for the year ended December 31, 2004 decreased to
49. Operating
income increased slightly to $57.0 million and that the cumulative cost savings
realized in the 24
months after the acquisitions will approximate $13
to $15 million. Overall
sales increases are
dependent on a number of factors including
continued success and expansion of existing product lines
and
successful introductions of new products and product lines and are
impacted by seasonality
, overall economic conditions including
consumer retail spending and shifts in the timing of that
spending and
the timing and level of retailer orders.rc2corp. The
Company undertakes no obligation
to make any revisions to the
forward-looking statements contained in this release or to update them
to reflect events or circumstances occurring after the date of this
release.03 (0.77
============= ======================== ===========
RC2
Corporation and Subsidiaries
Supplemental Sales Reporting
(in thousands
) (unaudited)
Quarter ended Quarter ended Year ended Year ended
Dec.9 million
credit facility for American Aluminum Extrusion LLC and American
Aluminum
Extrusions of Ohio LLC., and
American Aluminum Extrusions of Ohio LLC, based in Canton, produce
standard
and custom aluminum extrusions for the transportation,
machinery and equipment, building and construction
and other
industries (www. The
company will use the facility to refinance existing debt and for
working capital.creations compound
The combined impact of these fourth quarter
charges on the Company's diluted
earnings per share was approximately
$0. (Refer to the attached Diluted
Earnings Per Share Reconciliation
).2% organic
growth within the children's toy category primarily driven by the John
Deere ride
-on and toy vehicles, and Thomas + Friends product lines.7% from 51.4% of net sales in the prior year
fourth quarter. Gross margin excluding
approximately $3. Sales internationally
increased in
2004 and we expect additional sales increases in
international markets in 2005. ET on Thursday, February
17, and is available live and in
replay to all analysts/investors through a webcast service. RC2
reaches its target consumers through
multiple channels of distribution supporting more than 25,000
retail
outlets throughout North America, Europe, Australia, and Asia Pacific.72 $2.
Results for 2004 include Playing Mantis from June 1, 2004 and The
First Years from September
16, 2004.
American Aluminum Extrusion LLC, based in Beloit, Wisc.com
The credit facility, which
closed on December 24, is comprised of
a $11. DUBLIN, Ohio, For more than 30 years,
adhesive
and bonding solutions from Ashland Inc.
Specifically engineered to return automobiles to their
pre-accident
condition, the PLIOGRIP by Valvoline products provide better workability,
reduced
repair times and superior structural strength - critical requirements
of body shop professionals
.battletech copying
Net income was $10. Net
sales for the fourth quarter of 2004 excluding the 2004 acquisitions
of
The First Years and Playing Mantis increased approximately 4. Sales in this category have been
negatively
impacted by the continued softness in the automotive
replica product lines including difficult comparisons
with The Fast
and The Furious product line sales last year and the continuing
decline in NASCAR
product sales.1% to $19. The increase in the
infant products category is a result of The First Years
acquisition
and growth from Learning Curve's Lamaze product line.40 to $2. Factors that may
cause
actual results to differ materially from those contemplated by
such forward-looking statements include
, but are not limited to, the
following: the Company may experience unanticipated difficulties in
integrating its acquisition of The First Years; the Company may not be
able to manufacture, source
and ship new and continuing products on a
timely basis; the Company is dependent upon timely shipping
of product
and unloading of product through West Coast ports as well as timely
rail/truck delivery
to the Company's warehouse and/or customers'
warehouses; increases in the cost of raw materials used
to manufacture
the Company's products and increases in freight costs could increase
the Company
's cost of sales and reduce the Company's gross margins;
currency exchange rate fluctuations could
increase the Company's
expenses; customers and consumers may not accept the Company's
products
at prices sufficient for the Company to profitably recover
development, manufacturing, marketing
, royalty and other costs; the
inventory policies of retailers, together with increased reliance by
retailers on quick response inventory management techniques, may
increase the risk of underproduction
of popular items, overproduction
of less popular items and failure to achieve tight shipping schedules;
competition in the markets for the Company's products may increase
significantly; the Company
is dependent upon continuing licensing
arrangements with vehicle manufacturers, agricultural equipment
manufacturers, major race sanctioning bodies, race team owners,
drivers, sponsors, agents and
other licensors; the Company may
experience unanticipated negative results of litigation; the Company
relies upon a limited number of independently owned factories located
in China to manufacture
a significant portion of its vehicle replicas
and certain other products; the Company is dependent
upon the
continuing willingness of leading retailers to purchase and provide
shelf space for the
Company's products; and general economic
conditions in the Company's markets.51 $0.com/cgi
-bin/prnh/20040113/ASHLANDLOGO)
PLIOGRIP by Valvoline products utilize urethane, epoxy and MS
Polymer
technologies, and are comprised of 17 core products segmented into four
groups: SMC Repair
, Panel Bonding, Plastic Repair and Sealers + Foams.
Ashland Specialty Polymers + Adhesives, a
business group of Ashland
Specialty Chemical is a global leader in the pressure sensitive and structural
adhesives for packaging and converting, building and construction, and
transportation.etched retailers
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