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NEW BRITAIN, Conn., Jan. 3 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) announced today that it has completed the acquisition of Facom
Tools from Fimalac, S.A. for euro 410 million (approximately $485.5 million)
in cash. As previously announced, the Facom acquisition is expected to be
accretive to fully-diluted earnings by 10 cents per share in 2006.
(Note: Currency conversion was based on the December 30, 2005 mid-day rate
of 1.1842, as published by The Federal Reserve Bank of New York.)
The Stanley Works, an S&P 500 company, is a worldwide supplier of consumer
products, industrial tools and security solutions for professional, industrial
and consumer use. More information about The Stanley Works, including
corporate press releases, can be found at http://www.stanleyworks.com.
CAUTIONARY STATEMENT
Under the Private Securities Litigation Reform Act of 1995
Statements in this press release, including the expectation that the Facom
transaction will be accretive to fully diluted earnings by 10 cents per share
in 2006 (the "Results"), are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These forward-
looking statements are based on current expectations and involve inherent
risks and uncertainties that could delay, divert, or change any of them, and
could cause actual outcomes and results to differ materially from current
expectations.
The companys ability to deliver the Results is dependent upon, among
other things, (i) the ability of the company to achieve the synergies
anticipated as a result of the acquisition and limit acquisition-related costs
and expenses within expected ranges; (ii) the success of the companys efforts
to maintain prices in order to, among other things, offset the impact of steel
and other commodity price inflation; (iii) continued improvements in
productivity and cost reductions; and (iv) the absence or mitigation of
increased pricing pressures from customers and competitors and the ability to
defend market share in the face of price competition.
The companys ability to achieve the Results will also be affected by
external factors including pricing pressure and other changes within
competitive markets, the continued consolidation of customers particularly in
consumer channels, inventory management pressures on the companys customers,
increasing competition, changes in trade, monetary, tax and fiscal policies
and laws, inflation, currency exchange fluctuations, the impact of
dollar/foreign currency exchange and interest rates on the competitiveness of
products and the companys debt program, the strength of the U.S. economy and
the impact of events that cause or may cause disruption in the companys
installation, distribution and sales networks such as weather conditions, war,
terrorist activities, political unrest and recessionary or expansive trends in
the economies of the world in which the company operates.
The company undertakes no obligation to publicly update or revise any
forward-looking statements to reflect events or circumstances that may arise
after the date hereof.
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