Balchem (AMEX:BCP)
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Balchem Corporation Announces Extension of Stock Repurchase
Program
NEW HAMPTON, N.Y., June 21 /PRNewswire-FirstCall/ -- Balchem Corporation today
announced that its Board of Directors has authorized an extension of the Stock
Repurchase Program for up to an additional 600,000 shares through June 30,
2005.
Commenting on the repurchase program extension, Dino A. Rossi, President and
CEO of Balchem Corporation, stated, "This plan provides flexibility to conduct
repurchases without impacting the growth potential of our core business
segments, while utilizing internally generated funds in the best interest of
our shareholders. We feel this strategy reflects our confidence in Balchem's
long-term growth potential."
Purchases may be made, on a discretionary basis, utilizing funds in the open
market or in privately negotiated transactions, and would be conducted in
accordance with the Securities and Exchange Commission Rules, including, where
applicable, Rule 10b-18. The program may be terminated at any time at the
discretion of the Company and no assurance can be given as to the number of
shares which the Company ultimately determines to purchase or as to the timing
or frequency of such purchases. To date, Balchem has repurchased 343,316
shares under this plan.
Balchem Corporation provides innovative solutions and the highest quality
products for a range of industries worldwide. Balchem consists primarily of
three business segments: ARC Specialty Products, Encapsulated/Nutritional
Products, and BCP Ingredients, Inc. Through ARC Specialty Products, Balchem
provides specialty-packaged chemicals for use in healthcare and other
industries. The Encapsulated/Nutritional segment provides proprietary
microencapsulation solutions to an expanding variety of applications. BCP
Ingredients manufactures and supplies unencapsulated feed supplements used
primarily in the poultry and swine industries.
Contact:
Jackie Powell
Investor Relations Coordinator
Telephone: 845-326-5600
This release contains forward-looking statements, which reflect Balchem's
expectation or belief concerning future events that involve risks and
uncertainties. Balchem can give no assurance that the expectations reflected
in forward-looking statements will prove correct and various risks and factors
could cause results to differ materially from Balchem's expectations, including
risks and factors identified in Balchem's Annual Report on Form 10-K for the
year ended December 31, 2003. Forward-looking statements are qualified in
their entirety by the above cautionary statement.
DATASOURCE: Balchem Corporation
CONTACT: Jackie Powell, Investor Relations Coordinator of Balchem
Corporation, +1-845-326-5600
Web site: http://www.balchem.com/