Exhibit 99.1
Contacts
Media
Ted Lowen, Engelhard Corp.
732-205-6360
Investor Relations
Gavin A. Bell, Engelhard Corp.
732-205-6313
Ref. #C1430
or
Dan Katcher / Eden Abrahams
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
Engelhard Corporation
101 Wood Avenue,
P.O. Box 770
For immediate release Iselin, NJ 08830
Engelhard Commercializes New Technology for Heavy-Duty, Diesel-Emission Control
ISELIN, NJ, February 8, 2006 —Engelhard Corporation (NYSE: EC) today announced it has successfully commercialized innovative selective catalytic reduction (SCR) technology that enables heavy-duty diesel trucks to comply with stringent new Euro 4 and Euro 5 emission regulations.
Euro 4 standards, which call for a 30% reduction of emissions of nitrogen oxides (NOx) from heavy-duty diesel vehicles, began phasing in last year and take effect for all models in 2006. Euro 5 standards, currently under discussion for 2008-2009 implementation, are projected to require an additional 40% reduction in NOx emissions.
SCR is one of several technology platforms Engelhard has developed to meet the significant growing demand for emission-control technologies resulting from the phase-in of more stringent heavy-duty diesel regulations in Europe and the United States.
Engelhard’s new SCR technology is now in serial production on the flagship model of a major European truck manufacturer. The SCR catalyst comprises a catalytically active component coated on a ceramic honeycomb. In the presence of a reductant, such as ammonia or urea, the catalyst promotes a chemical reaction that converts NOx into water and nitrogen.
The SCR catalyst can readily achieve NOx-removal efficiencies greater than 80% depending on operating conditions and is easily integrated into an existing truck chassis using technology leveraged from catalytic converters on passenger cars.
Engelhard originally pioneered SCR technology in the late-‘60s for stationary-source applications such as power-generating and industrial manufacturing facilities. The company continues to be a major supplier to the stationary-source market.
Engelhard Corporation is a surface and materials science company that develops technologies to improve customers' products and processes. A global, Fortune 500 company, Engelhard is a world-leading provider of technologies for environmental, process, appearance, and performance applications.
Forward-Looking Statements: This document contains forward-looking statements. There are a number of factors that could cause Engelhard’s actual results to vary materially from those projected in the forward-looking statements. For a more thorough discussion of these factors and the key assumptions underlying these forward-looking statements, please refer to “Forward-Looking Statements” (excluding the first and last sentence thereof) on page 30 of Engelhard’s 2004 Form 10-K, dated March 11, 2005, and Exhibit (a)(11) to Amendment No. 2 to the Company’s Schedule 14D-9 (Investor Presentation entitled “Engelhard Response to BASF Offer”) (excluding the last paragraph of page 33 thereof), filed on February 2, 2006.
Additional Information and Where To Find It: This announcement does not constitute an offer or invitation to purchase nor a solicitation of an offer to sell any securities of Engelhard. In connection with the proposed transaction, BASF filed a Tender Offer Statement on Schedule TO on January 9, 2006, which has been amended (the “Tender Offer Statement”). Engelhard has filed certain materials with the SEC, including a Solicitation/Recommendation Statement on Schedule 14D-9, which has been amended (the “Schedule 14D-9”). Engelhard plans to file with the SEC and mail to its shareholders a Proxy Statement on Form 14A relating to the 2006 annual meeting of shareholders and the election of directors (the “2006 Proxy Statement”). Information regarding the names of Engelhard’s directors and executive officers and their respective interests in Engelhard by security holdings or otherwise is set forth in Engelhard’s Proxy Statement relating to the 2005 annual meeting of shareholders (“2005 Proxy Statement”). Additional information regarding the interests of such potential participants will be included in the 2006 Proxy Statement and other relevant documents to be filed with the SEC in connection with Engelhard’s 2006 annual meeting of stockholders that will be filed with the SEC.
INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ THESE MATERIALS BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain a free copy of the Tender Offer Statement, Schedule 14D-9, 2005 Proxy Statement, 2006 Proxy Statement (when it is filed and becomes available) and other documents filed by Engelhard or BASF with the SEC at the SEC’s website at http://www.sec.gov. In addition, investors and security holders may obtain a free copy of each of the Schedule 14D-9, 2005 Proxy Statement and 2006 Proxy Statement (when it is filed and becomes available), as well as Engelhard’s related filings with the SEC, from Engelhard by directing a request to Engelhard Corporation, 101 Wood Avenue, Iselin, New Jersey 08830, Attention: Investor Relations or 732-205-5000.
Copies of Engelhard's letter to stockholders and Schedule 14D-9 may also be obtained from MacKenzie Partners, Inc. by calling 1-800-322-2885 toll free or at 1-212-929-5500 collect or by e-mail at Engelhard@mackenziepartners.com.
SOURCE: Engelhard Corporation
Engelhard Corp.
Media
Ted Lowen, 732-205-6360
or
Investor Relations
Gavin A. Bell, 732-205-6313
Ref. #C1435
or
Joele Frank, Wilkinson Brimmer Katcher
Dan Katcher / Eden Abrahams
212-355-4449
