Acme United Enters $11.6 Million Fixed Rate Mortgage Facility | 2021-12-07 | Press Releases
SHELTON, Connecticut, Dec. 7, 2021 (GLOBE NEWSWIRE) – Acme United Company (NYSE American: ACU) introduced that it has signed a brand new mortgage settlement with HSBC Financial institution NA for its properties in Vancouver, Washington and Rocky Mount, North has Carolina. The brand new mortgage is $ 11.6 million with a hard and fast charge of three.8%. The time period is 7 years with a 20-year depreciation. Roughly $ 3.0 million of the brand new mortgage was used to repay the present mortgage on the Vancouver property.
Walter Johnsen, Chairman and Chief Government Officer of Acme United, mentioned, “In a time of rising inflation, we’re happy to set the rate of interest on $ 11.6 million of our capitalization. The brand new facility additionally will increase our debt capability to fund development and potential acquisitions by $ 8.6 million. “
Mr. Johnsen concluded, “We want to thank HSBC for his or her assist and assist.”
ACME UNITED CORPORATION is a number one world supplier of modern safety options and slicing know-how for the college, family, workplace, {hardware}, sporting items and industrial markets. The main manufacturers embody First support solely®, First support middle®, PhyS.Iciansupkeep®, P.onec package®, Spillmagic®, We sTcott®, Clayouss®, Camillus®, surprise®, DMT®, and med-nap. For extra data, go to www.acmeunited.com.
Ahead-looking statements on this report, together with with out limitation statements concerning the Firm’s plans, methods, targets, expectations, intentions and the appropriateness of sources, are made underneath the secure harbor provisions of the Non-public Securities Litigation Reform Act of 1995 that such forward-looking statements contain dangers and uncertainties, together with the consequences that the worldwide COVID-19 pandemic has and can have on the enterprise, operations and monetary outcomes of the corporate. This consists of the extent of the COVID-19 pandemic, together with period, unfold, severity and any recurrence of the COVID-19 pandemic, together with by way of present and any new variants of the underlying virus; the continued efficacy, world availability and public acceptance of vaccines; the period and extent of pandemic-related authorities orders and restrictions on business and different actions, together with closings of retail shops, workplaces, faculties and eating places; The period and scope of the corporate’s efforts to take care of the well being of staff in our workplaces, manufacturing services and distribution facilities; the extent of the impression of the COVID-19 pandemic on general demand for the corporate’s merchandise; the tempo and energy of the financial restoration and the heightened impression of the pandemic on lots of the dangers described right here, together with, however not restricted to, dangers associated to ongoing world financial turmoil and doable disruptions in our provide chain that adversely have an effect on the flexibility of the corporate may have an effect on the manufacture, buy or sale of merchandise at dwelling and overseas.
These dangers and uncertainties additionally embody, with out limitation: (i) adjustments within the Firm’s plans, methods, targets, expectations and intentions, which can be made at any time within the Firm’s discretion; (ii) the impression of uncertainties in world financial circumstances, whether or not brought on by COVID-19 or in any other case, together with the impression on the Firm’s suppliers and clients; (iii) the potential disruptions within the Firm’s provide chains, whether or not brought on by COVID-19 or in any other case; (iv) adjustments in buyer wants and consumption habits, together with adjustments associated to COVID-19; (v) the consequences of competitors; (vi) the consequences of technological adjustments, significantly the expansion of on-line advertising and marketing and gross sales actions; (vii) the corporate’s skill to successfully handle its development, together with its skill to efficiently combine any enterprise it might purchase; (viii) the corporate’s skill to successfully handle its stock in a quickly altering enterprise setting, together with further stock acquired to reply to uncertainties associated to COVID-19; (ix) the consequences of an increase in inflation; (x) forex fluctuations; (xi) worldwide commerce insurance policies and their results on the demand for our merchandise and our aggressive place, together with the introduction of recent tariffs or adjustments to present tariff charges; and (xii) different dangers and uncertainties that could be disclosed once in a while in filings by the Firm with the Securities and Trade Fee.
CONTACT:
Paul G. Driscoll
Acme United Company
Cellphone: (203) 254-6060
FAX: (203) 254-6521
[ad_2]
