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|Stanley Black & Decker Reaches Agreement To Sell Majority Of Its Mechanical Security Businesses To dormakaba For $725 Million In Cash|
President and Chief Executive Officer
Loree continued, "The commercial electronic security business, with its inherent linkage to the digital world provides both a stable recurring revenue stream and an opportunity to develop and market high value, high growth customer solutions incorporating IOT, cloud, advanced analytics and other emerging technologies. Our scale and global footprint in this business is an excellent platform to build upon, both organically and inorganically. Our automatic doors business also represents an attractive growth opportunity for market expansion through both core and breakthrough innovation. We remain focused on applying the principles of our proven operating system, SFS 2.0, to enhance the growth, profitability and asset efficiency of these businesses."
This tax–efficient sale transaction is expected to generate net after-tax cash proceeds of approximately
Cautionary Note Regarding Forward-Looking Statements
You are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are not guarantees of future events and involve risks, uncertainties and other known and unknown factors that may cause actual results and performance to be materially different from any future results or performance expressed or implied by such forward-looking statements, including, but not limited to, the failure to consummate, or a delay in the consummation of, the transaction for various reasons; the failure to consummate, or a delay in the consummation of, the Newell Tools transaction for various reasons (including but not limited to failure to receive required regulatory approvals); and failure to realize the expected benefits of the recently announced Newell Tools acquisition.
Forward-looking statements made herein are also subject to risks and uncertainties, described in:
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/stanley-black--decker-reaches-agreement-to-sell-majority-of-its-mechanical-security-businesses-to-dormakaba-for-725-million-in-cash-300382322.html