Acco Brands Corp : ACCO Brands Completes Divesture of Perma(R) Corrugated Storage Box Business
09/29/2006| 01:16pm US/Eastern
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ACCO Brands Corporation (NYSE: ABD), a world leader in select categories
of branded office products, announced today it has completed the
previously announced divesture of its US and Canadian Perma®
corrugated storage box brand businesses to Fellowes, Inc. a global
manufacturer and marketer of business machines, records storage
solutions and technology accessories. The Perma®
businesses generated approximately $30 million in net revenues in 2005.
About ACCO Brands Corporation
ACCO Brands Corporation is a world leader in select categories of
branded office products, with annual revenues of nearly $2 billion. Its
industry-leading brands include Day-Timer®,
Swingline®, Kensington®,
Quartet®, GBC®, Rexel®,
and Wilson Jones®, among others. Under the
GBC brand, the company is also a leader in the professional print
finishing market.
Forward-Looking Statements
This press release contains statements which may constitute
"forward-looking" statements as that term is defined in the Private
Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to certain risks and
uncertainties, are made as of the date hereof and the company assumes no
obligation to update them. 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 depending on a
variety of factors, including but not limited to fluctuations in cost
and availability of raw materials; competition within the markets in
which the company operates; the effects of both general and
extraordinary economic, political and social conditions; the dependence
of the company on certain suppliers of manufactured products; the effect
of consolidation in the office products industry; the risk that
businesses that have been combined into the company as a result of the
merger with General Binding Corporation will not be integrated
successfully; the risk that targeted cost savings and synergies from the
aforesaid merger and other previous business combinations may not be
fully realized or take longer to realize than expected; disruption from
business combinations making it more difficult to maintain relationships
with the company's customers, employees or suppliers; foreign exchange
rate fluctuations; the development, introduction and acceptance of new
products; the degree to which higher raw material costs, and freight and
distribution costs, can be passed on to customers through selling price
increases and the effect on sales volumes as a result thereof; increases
in health care, pension and other employee welfare costs; as well as
other risks and uncertainties detailed from time to time in the
company's SEC filings.
© Business Wire 2006
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