Brady Corporation Closes the Second and Final Phase of the Sale of Its Die-Cut Business
August 01 2014 - 8:45AM
Business Wire
Brady Corporation (NYSE:BRC) (“Brady”), a world leader in
identification solutions, today announced that it has completed the
second phase of the previously announced two-step divestiture of
its European and Asian Die-Cut businesses to Boyd Corporation, a
leading global provider of highly engineered, specialty
material-based energy management and sealing solutions.
On February 24, 2014, Brady announced that it reached an
agreement to sell its Die-Cut business to Boyd Corporation in a
two-step process. The first step, which closed on May 1, 2014,
involved the sale of the Die-Cut business with operations in
Germany, Thailand, Korea, and Malaysia. The second step, which
closed on August 1, 2014, involved the sale of the remaining
portion of the Die-Cut business, with operations in the People’s
Republic of China and associated global sales support. Aggregate
cash proceeds received by the Company in connection with the sale
of its Die-Cut business were approximately $60 million and are
subject to customary final working capital and net cash
adjustments.
About Brady Corporation
Brady Corporation is an international manufacturer and marketer
of complete solutions that identify and protect premises, products
and people. Brady’s products help customers increase safety,
security, productivity and performance and include high-performance
labels, signs, safety devices, printing systems and software.
Founded in 1914, the company has a diverse customer base in
electronics, telecommunications, manufacturing, electrical,
construction, medical and a variety of other industries. Brady is
headquartered in Milwaukee, Wisconsin and as of July 31, 2013,
employed approximately 7,400 people in its worldwide businesses.
Brady’s fiscal 2013 sales were approximately $1.15 billion. Brady
stock trades on the New York Stock Exchange under the symbol BRC.
More information is available on the Internet at
www.bradycorp.com.
Brady CorporationInvestor contact:Aaron Pearce,
414-438-6895orMedia contact:Carole Herbstreit, 414-438-6882
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