TOWSON, Md., March 1 /PRNewswire-FirstCall/ -- The Black & Decker
Corporation (NYSE: BDK) announced that it has purchased Vector Products, Inc.,
a leading designer and marketer of consumer portable power products, for $160
million in cash. Vector's products, including power inverters, jump-starters,
vehicle battery chargers and rechargeable spotlights, had more than $150
million of sales in 2005.
Nolan D. Archibald, Chairman and Chief Executive Officer, commented,
"Vector is a highly innovative, fast-growing and profitable company that will
fit well with the Black & Decker consumer products group. We began licensing
the Black & Decker brand to Vector in 2005, and have become increasingly
impressed with their talented team and entrepreneurial spirit over the past
year. This acquisition will give us new technologies and categories that
complement our world-class product development expertise, provide
opportunities in the automotive and marine distribution channels, and generate
synergies with our distribution network. We expect the transaction will be
slightly accretive to earnings per share in 2006, and add $0.10 to $0.15 of
annualized EPS in 2007. We also expect it will be accretive to our return on
capital employed in 2008. Black & Decker remains committed to disciplined
stewardship of capital, and this transaction aligns very well with our bolt-on
acquisition strategy."
This release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. By their nature, all forward-looking statements involve
risks and uncertainties. For a more detailed discussion of the risks and
uncertainties that may affect Black & Decker's operating and financial results
and its ability to achieve the financial objectives discussed in this press
release, interested parties should review the "Risk Factors" sections in Black
& Decker's reports filed with the Securities and Exchange Commission,
including the Annual Report on Form 10-K for the fiscal year ended
December 31, 2005.
Black & Decker is a leading global manufacturer and marketer of power
tools and accessories, hardware and home improvement products, and technology-
based fastening systems.
SOURCE The Black & Decker Corporation
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CONTACT:
Barbara B. Lucas, Senior Vice President,
Public Affairs, +1-410-716-2980, or Mark M. Rothleitner, Vice
President, Investor Relations and Treasurer, +1-410-716-3979,
both of The Black & Decker Corporation
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