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Exhibit 99.1
FOR IMMEDIATE RELEASE
FOR MORE INFORMATION, CONTACT: Steven O. Cordier
414/347-3868
UNIVERSAL FOODS CORPORATION ANNOUNCES FISCAL YEAR CHANGE
MILWAUKEE, September 11, 2000 - Universal Foods Corporation (NYSE: UFC)
today announced that it is moving the date of its fiscal year end from September
30 to December 31. The first annual period to be reported on the new fiscal year
end will be the twelve months ended December 31, 2000.
"The reporting of our financial results will compare more directly with
other business-to-business companies that serve the same customer base," said
Kenneth P. Manning, Chairman and CEO. "The fiscal year change is just one more
step we are taking as we transition into a new company. Later this year we will
introduce a new name for the company. The new corporate name will better reflect
the true nature of our business, communicating that our focus now includes
select high-growth, non-food markets, including cosmetics and specialty inks,"
Manning said.
Universal Foods Corporation is a global manufacturer of
high-performance colors and flavors. The Company is one of the leading producers
of ink-jet inks and products that give distinction to food, beverages, cosmetics
and pharmaceuticals.
THIS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS THAT REFLECT
MANAGEMENT'S CURRENT ASSUMPTIONS AND ESTIMATES OF FUTURE ECONOMIC
CIRCUMSTANCES, INDUSTRY CONDITIONS, COMPANY PERFORMANCE AND FINANCIAL
RESULTS. THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES
A SAFE HARBOR FOR SUCH FORWARD-LOOKING STATEMENTS. A VARIETY OF
FACTORS, INCLUDING GENERAL ECONOMIC CONDITIONS AFFECTING THE COMPANY'S
WORLDWIDE BUSINESS, COULD CAUSE THE COMPANY'S ACTUAL RESULTS AND
EXPERIENCE TO DIFFER MATERIALLY FROM THE ANTICIPATED RESULTS.
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