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EXHIBIT 99.1
[SPECIAL METALS LETTERHEAD]
Special Metals Announces Chief Financial Officer's Departure and Names Acting
CFO.
NEW HARTFORD, N.Y. -- October 19, 2000 -- Special Metals Corporation
(NASDAQ: SMCX)) announced today that Donald C. Darling has stepped down from his
position as Vice President, Administration and Chief Financial Officer and from
the Corporation's Board of Directors after more than two decades of service.
Paul A. Totaro, currently Controller and Treasurer of the Company, has
been named as acting Chief Financial Officer until a replacement is named. Mr.
Totaro will report directly to Dr. John.
Special Metals is the world's largest and most-diversified producer of
high-performance nickel-based alloys. Its specialty metals are used in some of
the world's most technically demanding industries and applications, including:
aerospace, power generation, chemical processing, oil exploration and
medical/dental devices. Through its New Hartford, N.Y. headquarters, 11 U.S. and
European production facilities and a global distribution network, Special Metals
supplies over 5,000 customers and every major world market for high-performance
nickel-based alloys.
The statements in this release relating to matters that are not
historical facts are forward-looking statements that involve risks and
uncertainties, including, but not limited to, the cyclicality of its markets
including the aerospace industry, raw material pricing, future products, and
other risks and uncertainties detailed in the Company's Securities and Exchange
Commission filings.
CONTACT: Special Metals Corporation
Investment Community & Financial Media
Paul A. Totaro, 315/798-2927
or
Local/Regional New Media
Tracy D. Hutson 304/526-5628
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