ACCO Brands Corporation Announces Completion Of Spin-off/Merger; Transactions Create One of World's Largest Suppliers of Branded Office Products; ACCO Brands Trading on NYSE Under Symbol ABD.LINCOLNSHIRE Lincolnshire (lĭng`kənshĭr), county (1991 pop. 573,900), 2,662 sq mi (6,895 sq km), E England, on the Humber estuary, the North Sea, and The Wash. The county seat is Lincoln. , Ill. -- Following the completion of its spin-off/merger, ACCO ACCO American College of Chiropractic Orthopedists ACCO Association of County Commissioners of Oklahoma ACCo American Cyanamid Company ACCO Adenoid Cystic Carcinoma Organization ACCO American Clip Company ACCO Assistant Central Control Officer Brands Corporation (NYSE NYSE See: New York Stock Exchange : ABD ABD n. A candidate for a doctorate who has completed all the requirements for the degree, such as courses and examinations, with the exception of the dissertation. [a(ll) b(ut) d(issertation).] ) today announced that its common stock began trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors ABD. ACCO Brands is a newly-created company formed through the spin-off The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. of Fortune Brands' ACCO World Office Products unit and its merger with General Binding Corporation (GBC GBC Game Boy Color GBC Global Business Coalition GBC Green Building Council GBC George Brown College GBC Great Basin College (Nevada) GBC General Binding Corporation GBC Greater Baltimore Committee GBC Goldey-Beacom College ), which was completed early this morning. ACCO Brands is a world leader in branded office products, and its portfolio of industry-leading brands includes Swingline, Kensington, Wilson Jones Charles Wilson Jones (born April 29, 1914 in Wrexham, Wales, died January 9, 1986 in Birmingham) was a Welsh professional footballer who played as an centre-forward for Wrexham, Birmingham and Nottingham Forest in the Football League, and for Wales at international level. , Quartet Quartet™ Respiratory care A system for diagnosing and managing obstructive sleep apnea Modes Continuous, bi-level pressure, automatic 'smart' CPAP modes. See Obstructive sleep apnea. , GBC, and Day-Timer, among others. With annual revenues of nearly $2 billion, the Company markets its products in more than 100 countries across the globe and employs approximately 8,000 people worldwide. David Campbell David Campbell may refer to:
n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. . Approximately 85% of our sales are from brands with number one or number two market positions. Our broad portfolio of leading brands, worldwide distribution reach, and shared services capability are unique in the industry. We will immediately begin executing our detailed integration plans, which includes achieving the previously-disclosed annual target of $40 million in net cost synergies Cost Synergy In the context of mergers, cost synergy is the savings in operating costs expected after two companies, who compliment each other's strengths, join. Notes: The savings in operating costs usually come in the form of laying off employees. by the end of 2007. "As proven operators with a scalable business model and strong cash generation, we plan to reduce our debt levels during the integration period. Longer-term, while maintaining our focus on internal growth, we will pursue targeted, high-return acquisitions, leveraging our existing infrastructure in the large and fragmented frag·ment n. 1. A small part broken off or detached. 2. An incomplete or isolated portion; a bit: overheard fragments of their conversation; extant fragments of an old manuscript. 3. office products industry." Under the terms of the spin-off and merger, Fortune Brands shareholders will receive one share of ACCO Brands stock for every 4.255 shares of Fortune Brands stock they hold while retaining their Fortune Brands stock. GBC shareholders will receive one ACCO Brands share for each GBC share they own. Immediately following the merger, there were approximately 52.2 million shares of ACCO Brands common stock outstanding. About ACCO Brands ACCO Brands Corporation (NYSE: ABD) is a world leader in branded office products, with annual revenues of nearly $2 billion. Its industry-leading brands include Swingline, Kensington, Wilson Jones, Quartet, GBC, and Day-Timer, among others. Under the GBC brand, the Company is also a leader in the professional printing market. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements, which are based on certain assumptions and describe future plans, strategies and expectations of ACCO Brands, are generally identifiable by use of the words "believe," "expect," "intend," "anticipate," "estimate," "forecast," "project," "plan," or similar expressions. ACCO Brands' ability to predict results or the actual effect of future plans or strategies is inherently uncertain and actual results may differ from those predicted. ACCO Brands undertakes no obligation to update these forward-looking statements in the future. Among the factors that could cause plans, actions and results to differ materially from current expectations are: competition within the office products, document finishing and film lamination lamination a laminar structure or arrangement. industries; the effects of economic and political conditions; the ability of distributors to successfully market and sell our products; the availability and price of raw materials; dependence on certain suppliers of manufactured products; the effect of consolidation in the office products industry; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; as well as other risks and uncertainties detailed from time to time in ACCO Brands' Securities and Exchange Commission filings.
For more information about ACCO:
Media Relations:
Rich Nelson, 847-484-3030
or
Investor Relations:
Jennifer Rice, 847-484-3020
ACCO BRANDS CORPORATION - FACTS AT A GLANCE
Headquarters: Lincolnshire, Illinois
Chairman/Chief Executive Officer: David D. Campbell
Chief Financial Officer: Neal V. Fenwick
Chief Operating Officer,
Office Products Group: Dennis L. Chandler
Worldwide Employees: Approximately 8,000
Exchange/Ticker Symbol: NYSE/ABD
Key Investor Highlights:
-- World-leading, "pure play" supplier of branded office products
-- $1.9 billion in annual net sales
-- $60.1 million in 2004 pro forma net income
-- Implied enterprise value of $2.1 billion
-- Strong cash flow generation
-- Global base of retail customers and consumers throughout the
world
-- Key vendor to industry mega-customers
-- 46% of revenues generated from non-U.S. markets
-- Products marketed in over 100 countries
-- Highly cost-competitive supplier with a global,
state-of-the-art supply chain
-- Estimated annual synergies of $40 million expected within
three years
-- Focused on Innovation: Constant consumer research drives
valuable new product innovations
-- Long-term growth goals:
-- Sales in low to mid single digits
-- Operating income in mid to high single digits
-- EPS in double digits (before non-recurring charges/gains)
Consumer Business: Product Categories and Leading Brands
Product Category Leading Brands
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Workspace Tools (including staplers, shredders, Swingline, GBC,
punches and trimmers) Rexel
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Computer Accessories (including mice, trackballs, Kensington
keyboards, computer security devices and mobile
accessories)
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Visual Communication (including white boards, easels, Quartet, Boone
overhead projectors, transparencies and screens)
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Document Communication (including sheet protectors, GBC,
report covers, and binding and laminating machines Wilson Jones
and supplies) Rexel
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Storage & Organization (including binders, filing Wilson Jones,
systems, storage boxes, labels, clips and fasteners, Rexel
and accounting supplies)
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Commercial Business: Product Categories and Leading Brands
Product Category Leading Brands
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Digital Print Finishing (including wide format GBC
lamination, professional-grade binding systems and
development of new films and media)
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Films (including high-speed laminating systems) GBC
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Document Finishing (including high-end binding and GBC
laminating systems and supplies)
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Time Management (including personal organization and Day-Timer
time management products, including time management
software, planners and calendars)
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