NEWELL RUBBERMAID COMPLETES DYMO ACQUISITIONATLANTA, 23/11/2005
Newell Rubbermaid Inc. (NYSE: NWL) today announced it has completed its
acquisition of DYMO, a global leader in designing, manufacturing and
marketing on-demand labeling solutions, for approximately $730 million.
This transaction strengthens the company’s global leadership position in
the office products market. Newell Rubbermaid continues to expect the
acquisition to be neutral to earnings in 2005 and approximately $0.06
per share accretive in 2006.
Mark Ketchum, chief executive officer of Newell Rubbermaid, said, "DYMO
is a strategic extension of our Office Products portfolio and adds depth
to our product offering. We welcome the DYMO associates and look forward
to leveraging the great DYMO brand and innovation capability with Newell
Rubbermaid’s resources to further grow our leadership position."
DYMO holds a strong position in consumer, office and industrial channels
in Europe, North America and Australia. Supported by innovative,
patented new products marketed under wellknown brand names including
LabelWriter®, LabelManager®, LetraTAG® and RhinoPro, DYMO will be
integrated into Newell Rubbermaid’s Office Products Group which
accounted for $1.7 billion of the company’s $6.4 billion in sales in
2004. DYMO will operate as a strategic business unit within the Office
Products Group.
The Office Products Group manufactures and markets writing instruments,
art products and office organization supplies, led by a powerful brand
family including: Sharpie®, Paper Mate®, Parker®, Waterman®, EXPO®,
rotring®, Reynolds®, Berol® and Rolodex®, among others.
Steve Marton, Newell Rubbermaid Office Products group president, stated,
"DYMO’s history of strong revenue growth and profitability is built upon
their results-driven culture and the ability to bring innovative
products to market. The combination of our scale and breadth of
leadership brands, marketing resources and global distribution
capabilities with DYMO’s category-leading products provides compelling
growth opportunities for this strategic business unit."
Phil Damiano, DYMO president, said, "We’re excited about joining the
Office Products Group and through this combination we are
well-positioned to meet evolving customer needs for innovative,
value-added products."
Caution Concerning Forward-Looking Statements
The statements in this press release that are not historical in nature
constitute forward-looking statements. These forward-looking statements
relate to information or assumptions about the effects of sales,
income/(loss), earnings per share, operating income or gross margin
improvements, capital and other expenditures, cash flow, dividends,
restructuring, impairment and other charges, potential losses on
divestiture, costs and cost savings and the value thereof, debt ratings,
and management’s plans, projections and objectives for future operations
and performance. These statements are accompanied by words such as
"expect," "project," "will," "enable," "estimate," and similar
expressions. Actual results could differ materially from those expressed
or implied in the forward-looking statements. Important factors that
could cause actual results to differ materially from those suggested by
the forward-looking statements include, but are not limited to, our
dependence on the strength of retail economies in various parts of the
world; competition with numerous other manufacturers and distributors of
consumer products; major retailers’ strong bargaining power; changes in
the prices of raw materials used by the company; our ability to develop
innovative new products and to develop, maintain and strengthen our
end-user brands; our ability to expeditiously close facilities and move
operations in the face of foreign regulations and other impediments; our
ability to implement successfully information technology solutions
throughout our organization; our ability to improve productivity and
streamline operations; our ability to complete strategic acquisitions
(including DYMO); our ability to integrate previously acquired
businesses; the risks inherent in our foreign operations and those
factors listed in the company’s most recent Form 10-Q or 10-K, including
Exhibit 99.1 thereto, filed with the Securities and Exchange Commission.
About Newell Rubbermaid
Newell Rubbermaid Inc. is a global marketer of consumer and commercial
products with 2004 sales of $6.4 billion and a powerful brand family
including Sharpie®, Paper Mate®, Waterman®, EXPO®, DYMO®, IRWIN®,
LENOX®, BernzOmatic®, Rubbermaid®, Graco®, Calphalon® and Goody®. The
company is headquartered in Atlanta, Ga., and has approximately 30,000
employees worldwide.
This press release and additional financial information about the
company is available on the company’s web site at
www.newellrubbermaid.com.
Newell Rubbermaid Inc.
Atlanta, GA
Securities Listed
NYSE
Common Stock
(Symbol: NWL)
www.newellrubbermaid.com
Nancy de Jonge Davis
Vice President, Investor Relations & Corporate
Communications
Susan Masten
Director, Public Relations
10B Glenlake Parkway,
Suite 600
Atlanta, GA 30328
Phone: 770-407-3994
Fax:
770-407-3983
