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Kyzen Corporation Responds to Recent Acquisition Announcement by Zestron America
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| 27 February 2006 |
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Kyzen Corporation, a provider of environmentally responsible precision cleaning products for the electronics and high-technology manufacturing operations, responded to an announcement by Zestron America, a competitor in the precision cleaning industry, that Zestron is interested in purchasing Kyzen.
Kyle J. Doyel, Kyzen’s CEO and President, remarked, “Kyzen continues to implement and refine its long-term strategic plan. The success of that plan is evidenced by our record revenues for calendar year 2005, as reported in our earnings release issued today. Kyzen’s balance sheet is solid, and management continues with our efforts to enhance shareholder value.”
Doyel also noted, “Kyzen’s Board of Directors has not solicited, nor has it directed management to solicit, offers from any party or have discussions regarding a potential sale of the Company. Zestron has provided no details to Kyzen’s Board or management regarding any “offer,” which is surprising to us in light of Zestron’s announcement to certain trade publications, which seems intended to create uncertainty in our marketplace.”
Doyel concluded by saying, “We believe it is important for our shareholders, customers, employees and suppliers to understand that, although our Board will thoroughly review any reasonable offer, Kyzen is not for sale.”
www.kyzen.com
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