Brady Corporation Acquires Precision Converters, Inc.
October 20 2006 - 9:00AM
PR Newswire (US)
MILWAUKEE and DALLAS, Oct. 20 /PRNewswire-FirstCall/ -- Brady
Corporation (NYSE:BRC), a world leader in identification solutions,
specialty materials and precision die-cut parts, today announced
that it has acquired Precision Converters, Inc. of Dallas, Texas.
Terms of the transaction were not disclosed. Founded in 1995,
Precision Converters is a supplier of die-cut products to the
medical market with a specific focus on disposable, advanced
wound-care products. Its products include anti-microbial foam and
hydrocolloid dressings, wound closure strips, acne-control patches
and surgical drapes. The company had sales of approximately $10
million in 2005 and employs about 80 people. Its customers include
many leaders in the medical device and healthcare products
industries. "The acquisition of Precision Converters, and with it
the addition of wound-care products to our offering, adds
significant breadth and strength to Brady's medical die-cut
business capabilities," said Scott Hoffman, Brady vice president.
"By combining Brady's global infrastructure and die-cut expertise
with Precision Converters' experience in the fast-growing medical
device market, we have an exceptional opportunity to provide a
broader offering to our medical customers, as well as provide local
supply and service to their customers who require global
manufacturing capability, particularly in Asia." Brady Corporation
is an international manufacturer and marketer of complete solutions
that identify and protect premises, products and people. Its
products help customers increase safety, security, productivity and
performance and 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 500,000
customers in electronics, telecommunications, manufacturing,
electrical, construction, education, medical and a variety of other
industries. Brady is headquartered in Milwaukee and employs more
than 8,000 people at operations in the Americas, Europe and
Asia/Pacific. Brady's fiscal 2006 sales were approximately $1.018
billion. More information is available on the Internet at
http://www.bradycorp.com/ and http://www.pcitechnology.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: Carole Herbstreit of Brady Corporation,
+1-414-438-6882 Web site: http://www.bradycorp.com/
http://www.pcitechnology.com/ Company News On-Call:
http://www.prnewswire.com/comp/952350.html
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