ATLANTA, Nov. 23 /PRNewswire-FirstCall/ -- Newell Rubbermaid Inc.
(NYSE: NWL) today announced it has completed its acquisition of DYMO, a global
leader in designing, manufacturing and marketing on-demand labeling solutions,
for approximately $730 million. This transaction strengthens the company's
global leadership position in the office products market. Newell Rubbermaid
continues to expect the acquisition to be neutral to earnings in 2005 and
approximately $0.06 per share accretive in 2006.
Mark Ketchum, chief executive officer of Newell Rubbermaid, said, "DYMO is
a strategic extension of our Office Products portfolio and adds depth to our
product offering. We welcome the DYMO associates and look forward to
leveraging the great DYMO brand and innovation capability with Newell
Rubbermaid's resources to further grow our leadership position."
DYMO holds a strong position in consumer, office and industrial channels
in Europe, North America and Australia. Supported by innovative, patented new
products marketed under well-known brand names including LabelWriter(R),
LabelManager(R), LetraTAG(R) and RhinoPro, DYMO will be integrated into Newell
Rubbermaid's Office Products Group which accounted for $1.7 billion of the
company's $6.4 billion in sales in 2004. DYMO will operate as a strategic
business unit within the Office Products Group.
The Office Products Group manufactures and markets writing instruments,
art products and office organization supplies, led by a powerful brand family
including: Sharpie(R), Paper Mate(R), Parker(R), Waterman(R), EXPO(R),
rotring(R), Reynolds(R), Berol(R) and Rolodex(R), among others.
Steve Marton, Newell Rubbermaid Office Products group president, stated,
"DYMO's history of strong revenue growth and profitability is built upon their
results-driven culture and the ability to bring innovative products to market.
The combination of our scale and breadth of leadership brands, marketing
resources and global distribution capabilities with DYMO's category-leading
products provides compelling growth opportunities for this strategic business
unit."
Phil Damiano, DYMO president, said, "We're excited about joining the
Office Products Group and through this combination we are well-positioned to
meet evolving customer needs for innovative, value-added products."
Caution Concerning Forward-Looking Statements
The statements in this press release that are not historical in nature
constitute forward-looking statements. These forward-looking statements
relate to information or assumptions about the effects of sales,
income/(loss), earnings per share, operating income or gross margin
improvements, capital and other expenditures, cash flow, dividends,
restructuring, impairment and other charges, potential losses on divestiture,
costs and cost savings and the value thereof, debt ratings, and management's
plans, projections and objectives for future operations and performance.
These statements are accompanied by words such as "expect," "project," "will,"
"enable," "estimate," and similar expressions. Actual results could differ
materially from those expressed or implied in the forward-looking statements.
Important factors that could cause actual results to differ materially from
those suggested by the forward-looking statements include, but are not limited
to, our dependence on the strength of retail economies in various parts of the
world; competition with numerous other manufacturers and distributors of
consumer products; major retailers' strong bargaining power; changes in the
prices of raw materials used by the company; our ability to develop innovative
new products and to develop, maintain and strengthen our end-user brands; our
ability to expeditiously close facilities and move operations in the face of
foreign regulations and other impediments; our ability to implement
successfully information technology solutions throughout our organization; our
ability to improve productivity and streamline operations; our ability to
complete strategic acquisitions (including DYMO); our ability to integrate
previously acquired businesses; the risks inherent in our foreign operations
and those factors listed in the company's most recent Form 10-Q or 10-K,
including Exhibit 99.1 thereto, filed with the Securities and Exchange
Commission.
About Newell Rubbermaid
Newell Rubbermaid Inc. is a global marketer of consumer and commercial
products with 2004 sales of $6.4 billion and a powerful brand family including
Sharpie(R), Paper Mate(R), Waterman(R), EXPO(R), DYMO(R), IRWIN(R), LENOX(R),
BernzOmatic(R), Rubbermaid(R), Graco(R), Calphalon(R) and Goody(R). The
company is headquartered in Atlanta, Ga., and has approximately 30,000
employees worldwide.
This press release and additional financial information about the company
is available on the company's web site at http://www.newellrubbermaid.com.
SOURCE Newell Rubbermaid Inc.
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http://www.newellrubbermaid.com
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CONTACT:
Nancy de Jonge Davis, Vice President,
Investor Relations & Corporate Communications, or Susan Masten,
Director, Public Relations, of Newell Rubbermaid Inc.,
+1-770-407-3994, or Fax, +1-770-407-3983
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