ATLANTA, Nov. 30, 2006 /PRNewswire-FirstCall/ -- Newell Rubbermaid Inc.
(NYSE: NWL) today reported that it has completed the previously announced
sale of certain portions of its Home Decor Europe business to Hunter
Douglas, a global manufacturer and marketer of window treatments and
furnishings. The sale includes the businesses in Portugal and the Nordic,
Central and Eastern European regions, except for operations in Poland and
Ukraine, where regulatory approval is still pending and closing is expected
to occur by early 2007.
Newell Rubbermaid also announced it has signed an agreement for the
intended sale of the remaining portions of its Home Decor Europe business
located in Belgium, France, Italy, Luxembourg, the Netherlands and Spain.
The transaction is expected to close at year-end.
These transactions will complete the divestiture of the total Home
Decor Europe business, which designs, manufactures and sells drapery
hardware and window treatments primarily under Gardinia(R) and other local
brands. The company had previously sold its Home Decor operations in the
United Kingdom.
Financial terms of the transactions were not disclosed. The Home Decor
Europe business was placed into discontinued operations in the quarter
ending June 30, 2006. This business was previously included in the
company's Home Fashions segment.
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 Project
Acceleration, 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
divestitures of non-strategic businesses and strategic acquisitions; our
ability to integrate previously acquired businesses; the risks inherent in
our foreign operations and those factors listed in the company's most
recent quarterly report on Form 10-Q, including Exhibit 99.1 thereto, filed
with the Securities and Exchange Commission.
About the Company
Newell Rubbermaid Inc. is a global marketer of consumer and commercial
products with sales of approximately $6 billion and a strong portfolio of
brands, including Sharpie(R), Paper Mate(R), DYMO(R), EXPO(R), Waterman(R),
Parker(R), Rolodex(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 26,500 employees worldwide.
This press release and additional information about the company are
available on the company's Web site, http://www.newellrubbermaid.com.
NWL-AD
SOURCE Newell Rubbermaid Inc.
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http://www.newellrubbermaid.com/
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CONTACT:
Ron Hardnock, Vice President, Investor
Relations, or Esther Lippman, Senior Manager, Public Relations,
of Newell Rubbermaid Inc., +1-770-407-3994
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