Free press releases distribution network?

Agency / Source: Graco, Inc.

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



Graco Closes Finishing Brands Acquisition - Powder Finishing business to be consolidated with Graco’s Industrial Segment, while Liquid Finishing businesses to be held separate under FTC order - Graco.com
Graco Closes Finishing Brands Acquisition

 

PRZOOM - /newswire/ - Minneapolis, MN, United States, 2012/04/02 - Powder Finishing business to be consolidated with Graco’s Industrial Segment, while Liquid Finishing businesses to be held separate under FTC order - Graco.com. NYSE: GGG

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Heavy Machinery/Handling Solutions Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Graco Inc. announced today that it has closed on its $650 million acquisition of the Illinois Tool Works Inc. (NYSE: ITW) finishing businesses. The Company previously announced that it reached an agreement with the United States Federal Trade Commission (“FTC”), which allowed for closing to occur while the FTC investigates and considers a settlement proposal from Graco.

The acquisition includes complementary powder and liquid finishing equipment operations, technologies and brands. In powder finishing, Graco has added Gema®, a global leader in superior powder coating technology (the “Powder Finishing” business), and approximately one-third of the purchase price is expected to be allocated to this business. In industrial liquid finishing, the acquisition includes Binks® spray finishing equipment, DeVilbiss® spray guns and accessories, Ransburg® electrostatic equipment and accessories and BGK curing technology (excluding Powder Finishing, collectively known as the “Liquid Finishing” businesses).

As disclosed on March 27, 2012, the FTC has issued an order for Graco to hold the Liquid Finishing assets separate from the Powder Finishing and other Graco businesses while the FTC investigates and considers a settlement proposal from Graco. In compliance with the FTC’s order, the Liquid Finishing businesses have been acquired into a structure that limits commingling of the Liquid Finishing operations with Graco’s other businesses. Although the Liquid Finishing businesses are wholly-owned by Graco, they will be run independently by existing management under the supervision of a trustee who reports directly to the FTC.

At the completion of its review, the FTC will issue a final decision and order that will identify the products, businesses and/or assets that Graco will be required to divest. Such divestiture must be completed in the 180 days following the issuance of the final decision and order and may include up to all of the Liquid Finishing businesses.

Graco Inc. (Graco.com) supplies technology and expertise for the management of fluids in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries.

Cautionary Statement Regarding Forward-Looking Statements

A forward-looking statement is any statement made in this release that reflects the Company’s current thinking on the acquisition of the finishing business from ITW. All forecasts and projections are forward-looking statements. The Company undertakes no obligation to update these statements in light of new information or future events.

The Company desires to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 by making cautionary statements concerning any forward-looking statements made by or on behalf of the Company. The Company cannot give any assurance that the results forecasted in any forward-looking statement will actually be achieved. Future results could differ materially from those expressed, due to the impact of changes in various factors. These risk factors include, but are not limited to: whether and when the required regulatory approvals will be obtained, whether and when the Company will be able to realize the expected financial results and accretive effect of the transaction, how customers, competitors, suppliers and employees will react to the transaction, economic changes in global markets, the extent of the acquired businesses required to be divested, whether the Company will be able to find a suitable purchaser(s) and structure the divestiture on acceptable terms, and whether the Company will be able to complete a divestiture in a time frame that is satisfactory to the Federal Trade Commission. Please refer to Item 1A of, and Exhibit 99 to, the Company’s Annual Report on Form 10-K for fiscal year 2011 for a more comprehensive discussion of other risk factors that relate generally to the Company’s business and financial condition. The Annual Report on Form 10-K is available on the Company’s website and the Securities and Exchange Commission’s website at sec.gov.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Heavy Machinery/Handling Solutions Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: Graco, Inc.

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Heavy Machinery/Handling Solutions articles,
CATCH Visitors via Your Competitors Announcements!


Graco Closes Finishing Brands Acquisition

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
|
Contact: Press Office - Graco.com 
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Graco, Inc. securities in any jurisdiction including any other companies listed or named in this release.

Heavy Machinery/Handling Solutions via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From Graco, Inc. / Company Profile


Read Heavy Machinery/Handling Solutions Most Recent Related Press Releases:

ANDRITZ to Supply Two Spunlace Lines to Fujian NanFang Textile Co., Ltd, Including the First TT Cards Sold in China
ANDRITZ SEPARATION Launches New Decanter Generation
ANDRITZ and TeamTec Sign Cooperation Agreement for Worldwide Marketing of the SeaSOx Exhaust Gas Cleaning System for the Maritime Industry
ANDRITZ MeWa Launches Successful Collaboration with New Trading Partner in France
Gomà-Camps Boosts Tissue Production Capacity with Voith Technology
ANDRITZ to Upgrade Bleaching System for Cartulinas CMPC in Maule, Chile
Caterpillar to Participate in the Baird 2016 Industrial Conference on November 10
Metso Receives Comprehensive Valve Order for New Kilpilahti Power Plant in Porvoo
Oak Cliff Recycling Chooses Metso N Series Inclined Shear to Speed-up Production
OBSYS Becomes FlexLink Software Engineering

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  NAKIVO, Inc.

Visit  BizJobs.com







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today