Newell Rubbermaid

Drug Store News,  May 20, 2002  by Liz Parks

• E-mail
• Print
• Link

Newell Rubbermaid has completed the purchase of American Tool Companies, a leading manufacturer of hand tools and power tool accessories. The purchase price was $419 million.

Prior to the acquisition, Newell Rubbermaid had held a 49.5 percent stake in American Tool, whose product portfolio includes branded hand tools, such as Vise-Grip pliers, Quick-Grip hand clamps, Record vises, Straight-Line marking tools and Prosnip snips, in addition to power tool accessories, such as Irwin and Speedbor or wood boring bits, Hanson drill bits, Marathon saw blades, Joran masonry drill bits and Unibit step drills.

The company will be merged with Newell Rubbermaid's Levolor/Hardware Group, which in 2001 accounted for $1.4 billion of the company's nearly $7 billion in sales. American Tool's 2001 sales were $444 million.

COPYRIGHT 2002 Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.
COPYRIGHT 2008 Gale, Cengage Learning