MILWAUKEE, Aug. 16 /PRNewswire-FirstCall/ -- Brady Corporation (NYSE:
BRC), a world leader in identification solutions and specialty materials,
today announced that it has acquired Comprehensive Identification Products,
Inc. (CIPI), headquartered in Burlington, Mass. Terms of the transaction
were not disclosed.
CIPI is a market leader in badging accessories used to identify and
track employees and visitors in a variety of settings including businesses,
healthcare facilities, and government buildings. Products include lanyards,
badge reels, badge holders, strap clips, neck chains, luggage tags and
badging equipment such as card printers, software and supplies. Founded in
1966, CIPI serves the security and identification, advertising specialty
and promotional products industries, and markets through a network of
resellers and distributors. The business had sales of approximately $31
million in fiscal 2005 and currently employs 900 people at operations in
the U.S., Netherlands, Hong Kong and China.
"CIPI fits well in our strategy to grow our People Identification
offering. As a recognized leader in the industry, CIPI brings a national
sales force and established global distribution channels as well as an
international manufacturing base to help us best serve customers looking
for the most efficient ways to identify and track employees and visitors
within their facilities," said Tom Felmer, Brady vice president - Direct
Marketing Americas.
"Joining Brady's People Identification businesses creates a platform
for further growth for ourselves and our partners, and will provide our
customers with a one-stop shop for all of their People ID needs," said
Peter K. Scott, CIPI chairman and chief executive officer. CIPI President
and Chief Operating Officer Bill Kieckhafer added, "We look forward to
working with the Brady team. They bring a solid track record of investment
in new product development, a robust product offering and a global
infrastructure that combined with CIPI's strengths will allow us to bring
even more value to our customers."
Brady Corporation is an international manufacturer and marketer of
complete solutions that identify and protect premises, products and people.
Its products help customers increase safety, security, productivity and
performance and include high-performance labels and signs, safety devices,
printing systems and software, and precision die-cut materials. Founded in
1914, the company has more than 500,000 customers in electronics,
telecommunications, manufacturing, electrical, construction, education,
medical and a variety of other industries. Brady is headquartered in
Milwaukee and employs more than 7,000 people at operations in the Americas,
Europe and Asia/Pacific. Brady's fiscal 2005 sales were approximately $816
million. More information is available on the Internet at
http://www.bradycorp.com and http://www.compid.com .
Brady believes that certain statements in this news release are
"forward- looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. All statements related to future, not past,
events included in this news release, including, without limitation,
statements regarding Brady's future financial position, business strategy,
targets, projected sales, costs, earnings, capital expenditures, debt
levels and cash flows, and plans and objectives of management for future
operations are forward-looking statements. When used in this news release,
words such as "may," "will," "expect," "intend," "estimate," "anticipate,"
"believe," "should," "project" or "plan" or similar terminology are
generally intended to identify forward-looking statements. These
forward-looking statements by their nature address matters that are, to
different degrees, uncertain and are subject to risks, assumptions and
other factors, some of which are beyond Brady's control, that could cause
actual results to differ materially from those expressed or implied by such
forward-looking statements. For Brady, uncertainties arise from future
financial performance of major markets Brady serves, which include, without
limitation, telecommunications, manufacturing, electrical, construction,
laboratory, education, governmental, public utility, computer,
transportation; difficulties in making and integrating acquisitions; risks
associated with newly acquired businesses; Brady's ability to retain
significant contracts and customers; future competition; Brady's ability to
develop and successfully market new products; changes in the supply of, or
price for, parts and components; increased price pressure from suppliers
and customers; interruptions to sources of supply; environmental, health
and safety compliance costs and liabilities; Brady's ability to realize
cost savings from operating initiatives; Brady's ability to attract and
retain key talent; difficulties associated with exports; risks associated
with international operations; fluctuations in currency rates versus the US
dollar; technology changes; potential write-offs of Brady's substantial
intangible assets; risks associated with obtaining governmental approvals
and maintaining regulatory compliance for new and existing products;
business interruptions due to implementing business systems; and numerous
other matters of national, regional and global scale, including those of a
political, economic, business, competitive and regulatory nature contained
from time to time in Brady's U.S. Securities and Exchange Commission
filings, including, but not limited to, those factors listed in the "Risk
Factors" section located in Item 1A of Part II of Brady's Quarterly Report
on Form 10-Q for the period ended April 30, 2006. These uncertainties may
cause Brady's actual future results to be materially different than those
expressed in its forward-looking statements. Brady does not undertake to
update its forward-looking statements.
SOURCE Brady Corporation
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Related links:
http://www.bradycorp.com
http://www.compid.com
http://www.prnewswire.com/comp/952350.html/
CONTACT:
Carole Herbstreit, Brady Corporation,
+1-414-438-6882
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