LAS VEGAS, Dec. 17, 2012 /PRNewswire/ -- American Pacific
Corporation ("AMPAC" or the "Company") (NASDAQ: APFC) today
announced the decisions of Fred D. Gibson,
Jr. ("Ted"), Jane L. Williams
("Beth"), and Dean M. Willard, to
retire from the AMPAC Board of Directors. Ms. Williams and
Mr. Gibson are stepping down at the time of the next AMPAC Annual
Meeting in March; Mr. Willard's retirement from the Board is
effective on December 31, 2012.
Mr. Gibson has served on the Company's Board since 1985, including
as Chairman of the AMPAC Board until March
1998. Ms. Williams has served on the AMPAC board since 1993
and Mr. Willard has been a director of the Company since
1997.
John R. Gibson, Chairman of the
Board of the Company, said, "On behalf of the entire American
Pacific Board, I want to extend our gratitude to Ted, Beth and Dean
for their invaluable insight and years of dedicated service to the
Company.
Mr. Gibson continued, "Ted's deep knowledge of AMPAC's business
established during his time as Chairman and CEO, as well as his
scientific acumen, thoughtful judgment and astute industry
perspective, has been instrumental in the successful development
and execution of American Pacific's strategy over time. He
added, "The Board has benefitted greatly from Beth's special
knowledge as an entrepreneur, international business development
experience and insight, and her practical and effective approach to
planning and management of our Company as it evolved. Dean's
proven ability to evaluate businesses and develop strategic
initiatives to improve them, and his strong financial and business
analysis capabilities have made him a vital contributor to the
growth of the Company, and particularly the successful acquisitions
and divestitures AMPAC has completed during his time here.
Their collective expertise and contributions to AMPAC have been of
tremendous value to the Company and its shareholders, and we wish
them all the best in their future endeavors."
Fred D. Gibson, Jr., said, "It
has been my privilege to serve AMPAC and its stockholders alongside
my fellow Board members, and I am proud of all we have
achieved. During my more than 50 years at AMPAC and its
predecessor, the Company has undergone a transformative evolution
into a leading custom manufacturer of fine chemicals and specialty
chemicals within its focused markets. Throughout this
evolution, we have remained focused on creating value for AMPAC
stockholders while successfully expanding the Company's customer
base and product distribution around the globe."
Ms. Williams said, "AMPAC has achieved a well-deserved
reputation in the aerospace industry for delivering high-quality
and reliable technology and service. I am confident that the
Company is on the right path and in capable hands to leverage its
longstanding customer relationships to build on its success and
develop into a stronger and more successful company."
Mr. Willard said, "We have accomplished a great deal during my
time on the AMPAC Board, including the execution of initiatives
that have led to significant profitable growth in In-Space
Propulsion and the value creating divestiture of the ISP
business. It has been an honor to serve on this Board, and I
am confident that the Company is well positioned to continue
generating value for all of its stakeholders."
Pursuant to the bylaws of the Company, following the effective
dates of the retirements of Mr. Gibson, Ms. Williams and Mr.
Willard, the AMPAC Board of Directors will comprise nine
highly-qualified and experienced directors.
RISK FACTORS/FORWARD-LOOKING
STATEMENTS
Statements contained in this press release
that are not purely historical are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements include statements regarding
AMPAC's expectations, beliefs or intentions regarding the future
and other statements of director's or management's opinions.
Forward-looking statements in this press release include without
limitation statements concerning AMPAC's ability to continue to
create stockholder value and statements concerning AMPAC's,
position, direction and ability to leverage its longstanding
customer relationships to build on its success and develop into a
stronger and more successful company. Words such as "anticipate",
"expect", "can", "will" and similar expressions are intended to
identify forward-looking statements. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause AMPAC's actual results, market performance or
achievements to differ materially from any future results,
performance or achievements expressed or implied by such
forward-looking statements. The inclusion of forward-looking
statements should not be regarded as a representation by AMPAC that
any of its expectations will be achieved. Factors that could cause
actual results to differ materially from such forward-looking
statements include risks and uncertainties detailed in AMPAC's
periodic and other filings with the Securities and Exchange
Commission, including in Management's Discussion and Analysis of
Financial Condition and Results of Operations and in Risk Factors
in AMPAC's annual report on Form 10-K for the fiscal year ended
September 30, 2011 and quarterly
reports on Form 10-Q for the quarters ended December 31, 2011, March
31, 2012 and June 30, 2012.
All forward-looking statements contained in this release are made
as of the date hereof, based on information available to AMPAC as
of the date hereof, and AMPAC assumes no obligation to update any
forward-looking statement, whether for actual results or otherwise,
except as required by law.
ABOUT AMERICAN PACIFIC CORPORATION
American
Pacific Corporation (AMPAC) is a leading custom manufacturer of
fine chemicals and specialty chemicals within its focused
markets. We supply active pharmaceutical ingredients and
advanced intermediates to the pharmaceutical industry. For
the aerospace and defense industry we provide specialty chemicals
used in solid rocket motors for space launch and military
missiles. We produce clean agent chemicals for the fire
protection industry, as well as electro-chemical equipment for the
water treatment industry. Our products are designed to meet
customer specifications and often must meet certain governmental
and regulatory approvals. Additional information about us can be
obtained by visiting our web site at www.apfc.com.
Contact: Joseph Carleone –
(702) 735-2200
E-mail: InvestorRelations@apfc.com
SOURCE American Pacific Corporation
