NEW BRITAIN, Conn., July 25 /PRNewswire-FirstCall/ -- The Stanley Works today announced that it has completed the previously announced sale of its CST/berger laser leveling and measuring business, based in West Lafayette, IN, to Robert Bosch Tool Corporation for $205 million. The transaction will result in an estimated pre-tax book gain of $138 million and generate net after-tax cash proceeds of approximately $155 million.
Additional Information About The Stanley Works
The Stanley Works, an S&P 500 company with 2007 revenues of $4.5 billion, is a diversified worldwide supplier of tools and engineered solutions for professional, industrial, construction and do-it-yourself use, and access security solutions for commercial applications. Additional information about The Stanley Works, including corporate press releases, can be found at http://www.stanleyworks.com/.
CAUTIONARY STATEMENT Under the Private Securities Litigation Reform Act of 1995
Statements in this press release regarding the Company's ability to: (i) realize an estimated pre-tax book gain of $138 million and (ii) realize net after-tax cash proceeds of approximately $155 million are "forward looking statements" and subject to risk and uncertainty.
The Company's ability to deliver the results as described above (the "Results") is based on current expectations and involves inherent risks and uncertainties, including factors listed below and other factors that could delay, divert, or change any of them, and could cause actual outcomes and results to differ materially from current expectations. In addition to the risks, uncertainties and other factors discussed in this press release, the risks, uncertainties and other factors that could cause or contribute to actual results differing materially from those expressed or implied in the forward looking statements include, without limitation, those set forth under Item 1A Risk Factors of the Company's Annual Report on Form 10-K and any material changes thereto set forth in any subsequent Quarterly Reports on Form 10-Q, those contained in the Company's other filings with the Securities and Exchange Commission, and those set forth below.
The Company's ability to deliver the Results is dependent upon the ultimate allocation of the purchase price for the CST/berger business among The Stanley Works and certain of its European subsidiaries, as well as the final valuation of the working capital of the CST/berger business.
The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date hereof.
