2008-06-11 23:46:34 -
www.rohmhaas.com - Rohm and Haas Company (NYSE:ROH) announced today that it has completed its Accelerated Share Repurchase program announced on September 10, 2007. The company completed the program on June 9, retiring an additional 3.1 million shares.
"The primary goal of our Vision 2010 strategy is to deliver higher shareholder returns," commented Raj L. Gupta,
chairman and chief executive officer. "By completing the $1 billion accelerated share repurchase program, we are increasing shareholder value with a balanced use of our cash flow."
Over the course of the program, a total of 19.3 million shares were retired at an average price of $51.56, representing 9 percent of shares outstanding when the program was executed. The company expects shares outstanding of 193 million at June 30, 2008. With the completion of this program, the company has repurchased nearly 18 percent of its outstanding shares since December 31, 2004.
About Rohm and Haas Company
Leading the way since 1909, Rohm and Haas is a global pioneer in the creation and development of innovative technologies and solutions for the specialty materials industry. The company's technologies are found in a wide range of industries including: Building and Construction, Electronics and Electronic Devices, Household Goods and Personal Care, Packaging and Paper, Transportation, Pharmaceutical and Medical, Water, Food and Food Related, and Industrial Process. Innovative Rohm and Haas technologies and solutions help to improve life every day, around the world. Based in Philadelphia, PA, the company generated annual sales of approximately $8.9 billion in 2007. Visit www.rohmhaas.com for more information. imagine the possibilities(TM)
Rohm and Haas Company
Investor Relations
Andrew Sandifer
Director, Investor Relations
+1-215-592-3312
asandifer@rohmhaas.com
or
Media Relations
Emily Riley
Corporate Communications
+1-215-592-3644
eriley@rohmhaas.com