Polypore Comments on Court of Appeals' Ruling Regarding Microporous
CHARLOTTE, N.C., July 11, 2012 (GLOBE NEWSWIRE) -- Polypore International, Inc. (PPO) today announced that the 11thCircuit Court of Appeals has denied the Company's appeal of the Federal Trade Commission's ("FTC" or "Commission") Order regarding Polypore's acquisition of the Microporous assets in 2008.
The Company sought to overturn the Commission's Order, issued November 5, 2010, which required the Company to divest Microporous, including manufacturing facilities located in Piney Flats, Tennessee and Feistritz, Austria.
The Company maintains its position that the Commission committed legal errors in ruling against Polypore and the Company now plans to seek further review of this decision, including in the U.S. Supreme Court, if necessary. At this point, it is not possible to predict with certainty the outcome or timing of the appeal process.
About Polypore International, Inc.
Polypore International, Inc. is a global high technology filtration company specializing in microporous membranes. Polypore's flat sheet and hollow fiber membranes are used in specialized applications that require the removal or separation of various materials from liquids, primarily in the ultrafiltration and microfiltration markets. Based in Charlotte, NC, Polypore International, Inc. is a market leader with manufacturing facilities or sales offices in ten countries serving six continents. See www.polypore.net .
This release contains statements that are forward-looking in nature. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results and performance to be materially different from any future results or performance expressed or implied by these forward-looking statements. These factors include the following: the highly competitive nature of the markets in which we sell our products; the failure to continue to develop innovative products; the loss of our customers; the vertical integration by our customers of the production of our products into their own manufacturing process; increases in prices for raw materials or the loss of key supplier contracts; our substantial indebtedness; interest rate risk related to our variable rate indebtedness; our inability to generate cash; restrictions related to the senior secured credit agreement; employee slowdowns, strikes or similar actions; product liability claims exposure; risks in connection with our operations outside the United States, including compliance with applicable anti-corruption laws; the incurrence of substantial costs to comply with, or as a result of violations of, or liabilities under, environmental laws; the failure to protect our intellectual property; the loss of senior management; the incurrence of additional debt, contingent liabilities and expenses in connection with future acquisitions; the failure to effectively integrate newly acquired operations; the absence of expected returns from the intangible assets we have recorded; the adverse impact from legal proceedings on our financial condition; and natural disasters, epidemics, terrorist acts and other events beyond our control. Additional information concerning these and other important factors can be found in Item 1A. "Risk Factors" of our most recent Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. Polypore expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Polypore's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.
CONTACT: Polypore International, Inc. Investor Relations (704) 587-8886 email@example.com
Source: Polypore International, Inc. 2012 GlobeNewswire, Inc.