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Exhibit 99.2
[LETTERHEAD]
FOR IMMEDIATE RELEASE MEDIA INQUIRIES: CINDY RAINES
OCTOBER 11, 2000 (865) 584-0550 or [email protected]
MOLL INDUSTRIES, INC. ANNOUNCES
OFFER TO PURCHASE OUTSTANDING SENIOR NOTES
KNOXVILLE, TN -- Moll Industries, Inc. (the "Company") announced today
that it has commenced a tender offer (the "Offer") for all of its outstanding 11
3/4% senior Notes due 2004 (the "Notes"). The Company purchased $50.0 in
aggregate principal amount of the Notes in a tender offer and consent
solicitation which was settled on August 11, 2000. The Company is now offering
to purchase the remaining $50 million aggregate principal amount of Notes for
cash.
Each owner of Notes (a "Holder") has the following two options in
connection with the Offer:
- TENDER NOTES BY THE EXPIRATION DATE (5:00 P.M., NEW YORK CITY
TIME, ON NOVEMBER 8, 2000). Holders of Notes that are validly
tendered and not withdrawn prior to the Expiration Date will
receive a price (the "Purchase Price") of $850 per $1,000 of
Notes that are accepted for purchase, plus accrued and unpaid
interest up to but not including third business day following
the Expiration Date (the "Settlement Date"). HOLDERS WHO
DESIRE TO TENDER THEIR NOTES PURSUANT TO THE OFFER AND RECEIVE
THE PURCHASE PRICE ARE REQUIRED TO TENDER ALL OF THEIR NOTES
ON OR PRIOR TO THE EXPIRATION DATE.
- DECLINE TO VALIDLY TENDER NOTES. Holders of Notes in this
category will NOT be eligible to receive the Purchase Price.
Holders who do not wish to tender their Notes pursuant to the
Offer need take no action.
The Company's obligations in respect of the Offer are conditioned upon
the satisfaction of the conditions set forth in the Offer, including, without
limitation, the condition that the Company close the proposed sale of its
Cosmetics Division to subsidiaries of Pechiney, S.A., a company
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organized under the laws of France, pursuant to which the Company would obtain
funds to settle all payment obligations with respect to Notes accepted for
purchase pursuant to the Offer.
D.F. King & Co., Inc. is acting as information agent for the Offer. The
depositary for the Offer is State Street Bank & Trust Company. Copies of the
Offer to Purchase may be obtained from the information agent at 212-269-5500 or
800-269-6427.
Moll Industries, Inc. is a leading, full-service manufacturer and
designer of custom molded and assembled plastic components for a broad array of
customers and end markets throughout North America and Europe. Products using
Moll's plastics components are sold in a wide range of end markets, including
end markets for consumer products, telecommunications/business equipment,
household appliances, automobiles and medical devices.
This press release does not constitute an offer to purchase the Notes.
The Offer is made solely by the Offer to Purchase dated October 11, 2000 by the
Company.
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