Acme United Corporation Acquires First Aid Only Facility
October 26 2017 - 5:50PM
Acme United Corporation (NYSE American:ACU) today announced the
exercise of its option to purchase its First Aid Only manufacturing
and distribution center in Vancouver, WA for $4.0 million.
The property consists of 53,000 square feet of
office, manufacturing, and warehouse space on 2.86 acres. Built in
1993, the facility is in excellent condition and was recently
appraised at $6.25 million. The annual rent net of expenses
is $407,000. The purchase was financed by a variable rate
mortgage at 3.74%, which will result in additional annual interest
expenses of $150,000. After depreciation, the acquisition
will be accretive.
Walter C. Johnsen, Chairman and CEO, said, “The
option to purchase the facility was part of the First Aid Only
transaction we completed in 2014. The commercial real estate
market today in Vancouver, Washington is strong, and the purchase
represents an excellent value for our shareholders. We expect
savings to begin immediately.”
Mr. Johnsen concluded, “We would like to thank
HSBC Bank NA, which provided the financing for the transaction, for
its support.”
ACME UNITED CORPORATION is a
leading worldwide supplier of innovative cutting, measuring and
safety products to the school, home, office, hardware and
industrial markets. Its leading brands include Westcott®, Clauss®,
Camillus®, Cuda®, PhysiciansCare®, First Aid Only®, Pac-Kit®, DMT®
and Spill Magic®. For more information, visit
www.acmeunited.com.
Forward-looking statements in this report,
including without limitation, statements related to the Company’s
plans, strategies, objectives, expectations, intentions and
adequacy of resources, are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties including, without
limitation, the following: (i) the Company’s plans,
strategies, objectives, expectations and intentions are subject to
change at any time at the discretion of the Company; (ii) the
impact of current uncertainties in global economic conditions and
the ongoing financial crisis affecting the domestic and foreign
banking system and financial markets, including the impact on the
Company’s suppliers and customers (iii) currency fluctuations (iv)
the Company’s plans and results of operations will be affected by
the Company’s ability to manage its growth, (v) the Company’s
ability to successfully integrate acquired business; and (vi) other
risks and uncertainties indicated from time to time in the
Company’s filings with the Securities and Exchange Commission.
CONTACT: Paul G. DriscollAcme
United CorporationPhone: (203) 254-6060FAX: (203) 254-652155 Walls
Drive Fairfield, CT 06824