| Ticker: GCG | Liberty Lane | |
| Exchange: New York Stock Exchange | Hampton, New Hampshire 03842 | |
| Industry: Manufacturing | (603) 929-2606 |
| Type of Shares: | Common Shares | Filing Date: | 9/7/94 | |
| U.S. Shares: | 6,400,000 | Offer Date: | 5/15/96 | |
| Non-U.S. Shares: | 1,100,000 | Filing Price: | $2,000.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $17.50 | |
| Secondary Shares: | 5,000,000 | Gross Spread: | $1.09 | |
| Offering Amount: | $15,000,000,000 | Selling: | $0.65 | |
| Expenses: | $1,275,000 | Reallowance: | $0.10 | |
| Shares Out After: | 22,236,842 |
| Manager | Tier | Phone |
| Salomon Brothers Inc. | Lead Manager | (212) 783-2947 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 504-4525 |
| Lazard Freres & Co. | Co-manager | (212) 632-3000 |
| Morgan Stanley & Co. Incorporated | Co-manager | (212) 703-4797 |
| Auditor: Deloitte & Touche | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $550.87 | $144.57 | $128.66 | Assets: | $445.33 |
| Net Income: | $21.09 | $9.32 | $7.89 | Liabilities: | $651.39 |
| EPS: | $1.07 | $0.47 | $0.40 | Equity: | -$206.06 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a diversified manufacturing company predominately engaged in the production of inorganic chemicals, with manufacturing facilities located in the United States and Canada. Through its Chemical Segment, the company is a leading producer of soda ash in North America, and a major North American supplier of calcium chloride, sodium and ammonia salts, sulfites, nitrites, aluminum-based chemical products, printing plates and refinery and chemical sulfuric acid regeneration services to a broad range of industrial and municipal customers. Through its Manufacturing Segment, the company manufactures precision and highly engineered stamped and machined metal products, principally automotive engine parts. During its more than 90-year history, the company has built a strong customer base and enjoys significant market shares in the majority of its product lines. The company believes that its strong market positions result from its competitive strengths, including low cost manufacturing, technological, marketing and distribution expertise, control over the supply of its primary raw materials, high-quality products and customer service and the experience and commitment of its management. These strengths and increased earnings diversification have enabled the company to demonstrate stability in its operating cash flow over the past five years, even during periods of weak economic activity in the United States. |
| Use of Proceeds |
| The proceeds from the offering will be used to repay indebtedness outstanding under General Chemical's U.S. revolving credit facility, repay other U.S. bank debt of the company and for general corporate purposes. |
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