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 price 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 prevailing mortgage on the Vancouver property.
Walter Johnsen, Chairman and Chief Govt Officer of Acme United, stated, “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 progress and potential acquisitions by $ 8.6 million. “
Mr. Johnsen concluded, “We want to thank HSBC for his or her assist and help.”
ACME UNITED CORPORATION is a number one international supplier of modern security options and slicing know-how for the varsity, family, workplace, {hardware}, sporting items and industrial markets. The main manufacturers embrace First Support Solely®, First Support Central®, PhysiciansCare®, Pac-Equipment®, Spill Magic®, Westcott®, Clauss®, Camillus®, Cuda®, DMT® and Med-Nap. Extra data 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 assets, are made beneath 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 may have on the enterprise, operations and monetary outcomes of the corporate. This contains the extent of the COVID-19 pandemic, together with length, unfold, severity and any recurrence of the COVID-19 pandemic, together with by means of present and any new variants of the underlying virus; the continued effectiveness, international availability and public acceptance of vaccines; the length and extent of pandemic-related authorities orders and restrictions on industrial and different actions, together with closings of retail shops, places of work, colleges and eating places; The length and extent of the corporate’s efforts to take care of the well being of workers in our places of work, manufacturing amenities and distribution facilities; the extent of the impression of the COVID-19 pandemic on mixture demand for the corporate’s merchandise; the tempo and energy of the financial restoration and the heightened impression of the pandemic on most 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) modifications within the Firm’s plans, methods, objectives, expectations and intentions, which can be made at any time within the Firm’s discretion; (ii) the impression of uncertainties in international financial situations, 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) modifications in buyer wants and consumption habits, together with modifications associated to COVID-19; (v) the consequences of competitors; (vi) the consequences of technological modifications, notably the expansion of on-line advertising and gross sales actions; (vii) the corporate’s capacity to successfully handle its progress, together with its capacity to efficiently combine any enterprise it might purchase; (viii) the corporate’s capacity to successfully handle its stock in a quickly altering enterprise atmosphere, together with extra stock acquired to answer uncertainties associated to COVID-19; (ix) the impression 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 modifications to present tariff charges; and (xii) different dangers and uncertainties that could be disclosed now and again in filings by the Firm with the Securities and Alternate Fee.
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