Acme United Corporation Acquires Camillus Cutlery Assets.FAIRFIELD, Conn. -- Acme United Corporation (AMEX AMEXSee: American Stock Exchange :ACU ACU See: Asian currency units ) announced today that it has acquired the Camillus Cutlery Company The Camillus Cutlery Company was one of the oldest knife manufacturers in the United States. The company was started by a German immigrant named Adolph Kastor. Kastor moved to New York in 1870 and worked for his uncle Aaron Kastor in his hardware supply business, brand name as well as all its patents and trademarks for approximately $200,000. Camillus Cutlery was founded in 1873, and is one of the oldest knife companies in the U.S. It products include many types of pocket knives, as well as those for hunting and fishing. For many years, Camillus supplied knives for the Boy Scouts of America Noun 1. Boy Scouts of America - a corporation that operates through a national council that charters local councils all over the United States; the purpose is character building and citizenship training . It also shipped over 15 million knives to the military during World War II. The assets were acquired in a bankruptcy auction. Camillus closed business in February 2007 following a 6 month labor strike. Its revenues were approximately $18 million during its final year. Walter C. Johnsen, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Acme United said, "We intend to reestablish the Camillus brand into production and continue to deliver high quality products. We hope to slowly build revenues as we reconnect with customers. This will be a careful undertaking." ACME UNITED CORPORATION is an innovative supplier of cutting devices, measuring instruments, and safety products for school, home, office and industrial use. Its leading brands include Westcott[R], Clauss[R], and PhysiciansCare [R]. Forward-looking statements in this report, including without limitation, statements related to the Company's plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties including without limitation the following: (i) the Company's plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the Company's plans and results of operations will be affected by the Company's ability to manage its growth, and (iii) other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion