GOVERNOR O’MALLEY TOURS MCCORMICK’S TECHNICAL INNOVATION CENTER, MEETS WITH EMPLOYEES

Governor congratulates company on record earnings, being named among 100 Best Companies to Work For

ANNAPOLIS, MD - Governor Martin O’Malley today joined McCormick & Co.’s CEO Alan Wilson for a tour of the company’s Technical Innovation Center in Hunt Valley, the company’s global hub for research and development. The Governor, who has visited a number of Maryland companies recently, was invited by McCormick’s leadership to tour the facility, which houses the company’s research labs, test kitchen and test panel room. Following the tour, the Governor met with company employees in the CreateIT Center, where new flavors are created for retail and industrial products, and offered his congratulations to McCormick on today’s record earnings report and for recently being named among the Best 100 Companies to Work For by Fortune Magazine.

“Thanks to companies like McCormick – the world’s #1 spice maker, and one of the best 100 companies to work for according to Fortune Magazine – our State is in a better position to get through this economic downturn more quickly than many other states,” said Governor O’Malley. “Companies like McCormick are helping us grow our scientific research and development and scientific management sectors. We are happy to partner with Maryland businesses like McCormick to help them do what they do best – grow, innovate, and create jobs.”

"We were pleased that Governor O'Malley had the opportunity to visit our Technical Innovation Center in Hunt Valley and witness firsthand some of the exciting work under way here,” said CEO Alan Wilson. “In Maryland, McCormick has nearly 2,000 employees engaged in a wide range of tasks focused on bringing great flavor to consumers around the world. We especially wanted to tell the Governor our compelling story with regards to innovation, sustainability and the valued role a thriving manufacturer, such as McCormick, plays in our community. We want Maryland to be a state that helps businesses grow and create more jobs. "

Today, McCormick reported that its Fiscal Year 2009 earnings per share climbed 10 percent, marking the fourth consecutive year of achieving a double-digit increase in earnings per share. Cash flow from operations exceeded $400 million for the first time to $416 million. The company’s attributes the record earnings to acquisitions, cost savings and effective management of working capital and said it expects solid sales and earnings growth in 2010 as a result of new products and a substantial increase in brand marketing.

McCormick ranked 72 on the list of Best 100 Companies to Work For, which Fortune released last week. As the reasons behind the selection, Fortune noted that McCormick was able to grow its U.S. workforce by 2 percent during the recession and that nearly 25 percent of its workforce has been with the company more than 20 years. In addition, it added that 14 "junior boards of directors" give employees at all levels input into decision-making. In addition to McCormick, two additional Maryland-based companies made the Fortune list – Bethesda-based Marriot International, which ranked 82, and Baltimore-based LifeBridge Health, which ranked 96.