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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 wish to thank HSBC for his or her assist and help.”
ACME UNITED CORPORATION is a number one international supplier of progressive security options and reducing know-how for the college, family, workplace, {hardware}, sporting items and industrial markets. The main manufacturers embrace First Support Solely®, First Support Central®, PhysiciansCare®, Pac-Package®, Spill Magic®, Westcott®, Clauss®, Camillus®, Cuda®, DMT® and Med-Nap. Extra info is accessible at www.acmeunited.com.
Ahead-looking statements on this report, together with with out limitation statements concerning the Firm’s plans, methods, objectives, expectations, intentions and the appropriateness of sources, are made underneath the protected 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 contains 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 current and any new variants of the underlying virus; the continued effectiveness, international 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, colleges and eating places; The period and extent of the corporate’s efforts to take care of the well being of workers in our workplaces, manufacturing amenities and distribution facilities; the extent of the affect of the COVID-19 pandemic on mixture demand for the corporate’s merchandise; the tempo and energy of the financial restoration and the heightened affect of the pandemic on lots of the dangers described right here, together with, however not restricted to, dangers associated to ongoing international financial turmoil and attainable disruptions in our provide chain that adversely have an effect on the power of the corporate might have an effect on the manufacture, buy or sale of merchandise at dwelling and overseas.
These dangers and uncertainties additionally embrace, with out limitation: (i) adjustments within the Firm’s plans, methods, objectives, expectations and intentions, which can be made at any time within the Firm’s discretion; (ii) the affect of uncertainties in international financial situations, whether or not attributable to COVID-19 or in any other case, together with the affect on the Firm’s suppliers and prospects; (iii) the potential disruptions within the Firm’s provide chains, whether or not attributable to 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 means to successfully handle its development, together with its means to efficiently combine any enterprise it might purchase; (viii) the corporate’s means to successfully handle its stock in a quickly altering enterprise surroundings, together with extra stock acquired to reply to uncertainties associated to COVID-19; (ix) the affect of an increase in inflation; (x) foreign money 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 current tariff charges; and (xii) different dangers and uncertainties which may be disclosed on occasion in filings by the Firm with the Securities and Trade Fee.
CONTACT: Paul G. Driscoll Acme United Company Phone: (203) 254-6060 FAX: (203) 254-6521
Supply: Acme United Company
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