PORTLAND, Ore., Aug. 8, 2011 /PRNewswire/ -- Blount International, Inc. (NYSE: BLT) ("Blount"), a leader in the design, manufacturing, and marketing of replacement parts and equipment for consumers and professionals in select global end markets, including forestry, lawn, and garden; farm, ranch, and agriculture; and concrete cutting and finishing, today announced the acquisition of FinalameSA and its wholly-owned subsidiary, PBL SAS ("PBL"). PBL is a leading manufacturer of lawnmower blades and agricultural cutting parts based in Civray, France and Queretaro, Mexico. Blount purchased all of the equity of PBL for approximately $14 million in cash and assumed approximately $14 million in debt, net of cash acquired.
"Blount's acquisition of PBL provides needed lawnmower blade capacity and establishes a presence in the European agriculture market," stated Josh Collins, Blount's Chairman and Chief Executive Officer. "Additionally, Blount will benefit from PBL's cost-efficient manufacturing process at its France and Mexico facilities."
In the twelve months ended July 31, 2011, PBL's revenue was approximately $33.2 million, using monthly average exchange rates.
Blount is a leader in the design, manufacturing, and marketing of replacement parts and equipment for consumers and professionals in select global end markets, including forestry, lawn, and garden; farm, ranch, and agriculture; and concrete cutting and finishing, and is the market leader in manufacturing saw chain and guide bars for chainsaws. Blount sells its products in more than 100 countries around the world. For more information about Blount and the PBL acquisition, please visit our website at http://www.blount.com/.Forward looking statements in this release, including without limitation the Company's outlook, expectations, beliefs, plans, indications, estimates, anticipations, guidance, and their variants, as defined by the Private Securities Litigation Reform Act of 1995, are based upon available information and upon assumptions that the Company believes are reasonable; however, these forward looking statements involve certain risks and should not be considered indicative of actual results that the Company may achieve in the future. In particular, among other things, guidance given in this release is expressly based upon certain assumptions concerning market conditions, foreign currency exchange rates, raw material costs, the presumed relationship between backlog, and future sales trends, as well as the uncertainty of the current global economic situation. To the extent that these assumptions are not realized going forward, or other unforeseen factors arise, actual results for the periods subsequent to the date of this announcement may differ materially.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV