Alltrista Corporation comments on review of strategic options
INDIANAPOLIS, Ind., October 10, 2000--In reaction to today's announcement
regarding Alltrista Corporation's (NYSE: ALC) 2000 earnings outlook, the company
has received inquiries from several shareholders with respect to the process of
reviewing corporate strategic options, which was initiated earlier this year.
The company had engaged Bear Stearns to assist in this process, and although it
had been slowed pending review of projected operating performance, it had not
been suspended. Now that the assessment of projected operating performance has
been completed, the company intends to resume the normal pace for the process.
Thomas B. Clark, chairman, president and chief executive officer of
Alltrista Corporation, said, "Now that action plans aimed at addressing
operating performance have been developed and are being implemented, I want to
make it clear to all shareholders that we intend to proceed with the process of
reviewing strategic options."
Alltrista Corporation will conduct a conference call today at 4 p.m. EDT to
review today's announcements. The call can be accessed by dialing
1.800.244.2138.
Alltrista Corporation is now scheduled to announce actual results for its
third quarter ended October 1, 2000 on Friday, October 20 versus the originally
scheduled date of October 25. Senior management will conduct a conference call
on the 20th for interested parties, which will be Web cast on the corporation's
Web site by StreetEvents.
Alltrista is a materials-based company. Its plastics group serves numerous
fields, including healthcare, consumer, appliance, motor vehicle and industrial
markets. Through its metals group, Alltrista is the leading supplier of home
food preservation products, under the Ball(R), Kerr(R) and Bernardin(R) brands,
and is the country's largest producer of zinc strip and fabricated products,
including coin blanks for the U.S. and foreign mints. Please visit the company's
Web site at www.alltrista.com for further information.
Note: This news release contains forward-looking statements intended to qualify
for the Safe Harbor from liability established by the Private Securities
Litigation Reform Act of 1995, including statements regarding the outlook for
Alltrista's markets and the demand for its products. These projections and
statements are based on management's estimates and assumptions with respect to
future events and financial performance and are believed to be reasonable,
though are inherently uncertain and difficult to predict. Actual results could
differ materially from those projected as a result of certain factors. A
discussion of factors that could cause results to vary are included in the
Company's periodic reports filed with the Securities and Exchange Commission,
including its Form 10-K for the fiscal year ended December 31, 1999, and its
Form 10-Q for the three months ended July 2, 2000.
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