|Acme United Corporation Acquires Camillus Cutlery Assets|
| FAIRFIELD, Conn., Sep 18, 2007 (BUSINESS WIRE) -- Acme United Corporation (AMEX:ACU) announced today that it has acquired the Camillus Cutlery Company 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. 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 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 provisions of the Private Securities Litigation Reform Act 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.
SOURCE: Acme United Corporation
CONTACT: Acme United Corporation Paul G. Driscoll, 203-254-6060 Fax: 203-254-6521
Copyright Business Wire 2007
KEYWORD: United States North America Connecticut INDUSTRY KEYWORD: Professional Services Finance Retail Specialty SUBJECT CODE: Merger/Acquisition