NEW BRITAIN, Conn., July 25 /PRNewswire-FirstCall/ -- The Stanley Works
(NYSE: SWK) today announced that it has completed the previously announced
sale of its CST/berger laser leveling and measuring business, based in West
Lafayette, IN, to Robert Bosch Tool Corporation for $205 million. The
transaction will result in an estimated pre-tax book gain of $138 million
and generate net after-tax cash proceeds of approximately $155 million.
Additional Information About The Stanley Works
The Stanley Works, an S&P 500 company with 2007 revenues of $4.5
billion, is a diversified worldwide supplier of tools and engineered
solutions for professional, industrial, construction and do-it-yourself
use, and access security solutions for commercial applications. Additional
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 regarding the Company's ability to:
(i) realize an estimated pre-tax book gain of $138 million and (ii) realize
net after-tax cash proceeds of approximately $155 million are "forward
looking statements" and subject to risk and uncertainty.
The Company's ability to deliver the results as described above (the
"Results") is based on current expectations and involves inherent risks and
uncertainties, including factors listed below and other factors that could
delay, divert, or change any of them, and could cause actual outcomes and
results to differ materially from current expectations. In addition to the
risks, uncertainties and other factors discussed in this press release, the
risks, uncertainties and other factors that could cause or contribute to
actual results differing materially from those expressed or implied in the
forward looking statements include, without limitation, those set forth
under Item 1A Risk Factors of the Company's Annual Report on Form 10-K and
any material changes thereto set forth in any subsequent Quarterly Reports
on Form 10-Q, those contained in the Company's other filings with the
Securities and Exchange Commission, and those set forth below.
The Company's ability to deliver the Results is dependent upon the
ultimate allocation of the purchase price for the CST/berger business among
The Stanley Works and certain of its European subsidiaries, as well as the
final valuation of the working capital of the CST/berger business.
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.
SOURCE The Stanley Works
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Related links:
http://www.StanleyWorks.com
http://www.prnewswire.com/comp/874363.html /
CONTACT:
Greg Waybright, Interim VP, Investor
Relations, The Stanley Works, +1-860-827-3544,
gwaybright@stanleyworks.com
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