Exhibit 99.1
FOR IMMEDIATE RELEASE
Balchem Corporation Enters Into License Agreement
New Hampton, New York. November 14, 2005. Balchem Corporation (Amex:BCP) has
entered into a license agreement with the Project Management and Development
Co., Ltd. (PMD) of Saudi Arabia, for the use of Balchem's proprietary technology
in construction and operation of an aqueous choline chloride manufacturing
plant.
Under the license, PMD will construct the plant as part of PMD's Al-JuBail,
Saudi Arabia petrochemical facility, currently scheduled for completion in 2008.
The choline chloride plant will have an anticipated annual capacity of 20,000
metric tons, utilizing Balchem's state-of-the-art continuous manufacturing
technology. The plant will serve global markets, with Balchem having certain
distribution rights with respect to PMD's finished choline chloride products for
North America.
Xxxx X. Xxxxx, President and CEO of Balchem, said, "the capacity expansions in
Saudi Arabia are part of a significant petrochemical growth platform, in which
we are excited to be participating. We look forward to helping PMD meet the
growing global demand for choline chloride."
For further details of the License Agreement, please refer to Balchem Form 8-K
filing with the US Securities and Exchange Commission (xxx.xxx.xxx).
About Balchem
Balchem Corporation consists primarily of three business segments: ARC Specialty
Products, Encapsulated/Nutritional Products, and BCP Ingredients. Through ARC
Specialty Products, Balchem provides specialty-packaged chemicals for use in
healthcare and other industries. The Encapsulated/Nutritional segment provides
proprietary microencapsulation and agglomeration solutions to an expanding
variety of applications. BCP Ingredients manufactures and supplies choline
chloride and derivatives used primarily in the poultry and swine industries.
Forward Looking Statements
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 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, 2004. Forward-looking statements are qualified in their entirety by
the above cautionary statement. Balchem assumes no duty to update its outlook or
other forward-looking statements as of any future date.
Contact: Xxxxx Xxxxxxxxxxx, Chief Financial Officer
Telephone: 000-000-0000
e-mail: xxxxxxx@xxxxxxxxxxx.xxx
