Brady Announces Completion of Acquisition of Daewon Industry Corporation
July 03 2006 - 9:53AM
PR Newswire (US)
MILWAUKEE, July 3 /PRNewswire-FirstCall/ -- Brady Corporation
(NYSE:BRC), a world leader in identification solutions and
precision die-cut components, today announced that it has completed
its acquisition of Daewon Industry Corporation, a Korean
manufacturer of self-adhesive components for the mobile phone
industry. Daewon had fiscal 2005 sales of approximately $40 million
(U.S.), and employs 250 people in South Korea and China. The
company provides precision-cut adhesives, films, protective tapes,
shielding, acoustic components, and insulators to Korean mobile
handset manufacturers such as Samsung and other electronic
manufacturers. Brady Corporation is an international manufacturer
and marketer of complete solutions that identify and protect
premises, products and people. Its products 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 300,000 customers in electronics,
telecommunications, manufacturing, electrical, construction,
education, medical and a variety of other industries. Brady is
headquartered in Milwaukee and employs about 6,500 people in
operations in the United States, Europe, Asia/Pacific, Latin
America and Canada. Brady's fiscal 2005 sales were approximately
$816 million. More information is available on the Internet at
http://www.bradycorp.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. DATASOURCE:
Brady Corporation CONTACT: Investors, Barbara Bolens,
+1-414-438-6940, or Media, Carole Herbstreit, +1-414-438-6882, both
of Brady Corporation Web site: http://www.bradycorp.com/ Company
News On-Call: http://www.prnewswire.com/comp/952350.html
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