LAS VEGAS, April 4, 2008 /PRNewswire-FirstCall/ -- American Pacific Corporation (Nasdaq: APFC) today announced that Fred D. Gibson, Jr., one of its current directors and retired Chief Executive Officer, will continue his contributions toward the funding of the $1 million permanent endowment that he established to support the Mary and Maisie Gibson Chair and Georgia Research Alliance (GRA) Eminent Scholar in Computational Biology (the "Endowment") at the Georgia Tech Foundation, Inc. (the "Foundation"). As previously announced on May 31, 2007, Mr. Gibson committed to support the Endowment at the Foundation which receives and manages private contributions made for the support of Georgia Institute of Technology ("Georgia Tech"). The Appointments to the Chair continue to be administered by the President at Georgia Tech within any academic discipline. The initial appointment to the Chair is Professor Jeffrey Skolnick, Ph.D.
These additional contributions by Mr. Gibson are in the form of a gift of 16,000 shares of American Pacific common stock, which he owns personally, to be transferred in four installments of 4,000 shares each, on April 3, 2008, April 7, 2008, April 10, 2008 and April 14, 2008. Mr. Gibson will continue to fund the balance of his $1 million commitment over the next several years with gifts of American Pacific common stock or cash.
ABOUT AMERICAN PACIFIC CORPORATION
American Pacific is a leading manufacturer of specialty and fine chemicals within its focused markets, as well as propulsion products sold to defense, aerospace and pharmaceutical end markets. Our products provide access to, and movement in, space via solid fuel and propulsion thrusters and represent the key active ingredient in drug applications such as HIV, epilepsy and cancer. We also produce specialty chemicals utilized in various applications such as fire extinguishing systems, as well as manufacture water treatment equipment. Our products are designed to meet customer specifications and often must meet certain governmental and regulatory approvals. Additional information about American Pacific can be obtained by visiting the Company's web site at http://www.apfc.com.
|SOURCE American Pacific Corporation|
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