U.S. Industries purchases Woodings-Verona Tool Works for $6.2 million.
ISELIN, N.J. & LONDON--(BUSINESS WIRE)--January 16, 1997--U.S. Industries, Inc. (NYSE-USI) announced today that a unit of its Ames garden tool company has purchased the assets of Woodings- Verona Tool Works, Inc. for $5 million in cash plus the assumption of $1.2 million of debt.
Woodings-Verona, a privately-held company based in Verona, Pennsylvania Verona is a borough in Allegheny County, Pennsylvania, USA, 13 miles (21 km) east by north of downtown Pittsburgh, on the east bank of the Allegheny River. Formerly, railroad shops, tool works, lumber yards, steel-casting works, structural iron works, and a chemical plant operated , manufactures hot-forged heavy striking tools including sledge sledge: see sled. hammers, axes, bars, picks and railroad tools. The company has been in operation for 120 years and is a leader in its industry. Woodings-Verona's revenues for the fiscal year ended September 1996 were approximately $17 million.
David H. Clarke, Chairman and Chief Executive Officer of U.S. Industries, said, "This acquisition is consistent with our strategy to add branded product lines to our existing core businesses."
Rick E. Keup, President and Chief Executive Officer of Ames, stated, "Woodings-Verona is a respected name in its market segment and we look forward to building on that reputation."
Ames is the leading manufacturer and marketer in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. of non-powered lawn, garden and industrial hand tools and ladders for professional and residential use. The Ames companies sell their products under the brand names Ames, Eagle, Keller and Garant and their products include shovels and garden tools, snow shovels and pushers, shear tools, wheelbarrows, hose reels, ladders and other hand tools.
Woodings-Verona has manufacturing facilities in Falls City, Nebraska Falls City is a city in Richardson County, Nebraska, United States. The population was 4,671 at the 2000 census. It is the county seat of Richardson CountyGR6. Geography
Falls City is located at (40. , and Columbiana, Ohio Columbiana is a city in Columbiana and Mahoning counties in Ohio, United States. The population was 5,635 at the 2000 census. Geography
Columbiana is located at (40.885579, -80.688327)GR1. . It markets its products to major distributors and merchants, and through representatives to numerous hardware and industrial supply outlets throughout North America.
U.S. Industries is a diversified industrial management corporation with fiscal 1996 revenues of over $2.2 billion. Its companies include such well known businesses as Jacuzzi, Ames garden tools, Ertl toys, Rexair vacuum cleaners, Lighting Corporation of America, EJ Footwear, Garden State Tanning tanning, process by which skins and hides are converted into leather. Vegetable tanning, a method requiring more than a month even with modern machinery and tanning liquors, employs tannin; its use is shown in Egyptian tomb paintings dating from 3000 B.C. and Tommy Armour This article describes the early 20th century golfer Tommy Armour. If you are looking for the current golfer, see Tommy Armour III.
Thomas Dickson Armour (September 24, 1894 – September 12, 1968) was a Scottish-American professional golfer. Golf.
CONTACT: Diana Burton, (908) 767-2255