CRANBURY, N.J., July 13 /PRNewswire-FirstCall/ -- Innophos Holdings, Inc. today announced that its Mexican subsidiary, Innophos Fosfatados de Mexico, obtained an order finalizing a May 2007 judgment that nullified salt water tax assessments sought to be levied against it by the Mexican National Waters Commission (CNA). According to the Company, the Federal Fiscal and Administrative Justice Court, in an order dated July 10, 2007, ruled that the statutory time allowed for the CNA to appeal the court's earlier decision had expired with no appeals having been made and, therefore, it had become final. The Company disclosed previously that the salt water tax claims at issue amounted to approximately $108.7 million at current exchange rates (including interest charges, penalties and inflation).
Safe Harbor for Forward-Looking and Cautionary Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. As such, final results could differ from estimates or expectations due to risks and uncertainties, including but not limited to: incomplete or preliminary information; changes in government regulations and policies; continued acceptance of Innophos' products and services in the marketplace; competitive factors; technological changes; Innophos' dependence upon third-party suppliers; and other risks. For any of these factors, Innophos claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, as amended.
About Innophos Holdings, Inc.
Innophos Holdings, Inc. (http://www.innophos.com/), the holding company for a leading North American manufacturer of specialty phosphates, serves a diverse range of customers across multiple applications, geographies and channels. Innophos offers a broad suite of products used in a wide variety of food and beverage, consumer products, pharmaceutical and industrial applications. Innophos' market-leading positions derive from its experience and dedication to customer service and innovation. Headquartered in Cranbury, New Jersey, Innophos has manufacturing operations in Nashville, TN; Chicago Heights, IL; Chicago (Waterway), IL; Geismar, LA; Port Maitland, ON (Canada); and Coatzacoalcos, Veracruz and Mission Hills, Guanajuato (Mexico). 'IPHS-G'
