Spectrum Brands’ acquisition of HHI also includes certain assets of Tong Lung Metal Industry Co. Ltd. (“Tong Lung”), a Taiwanese manufacturer of residential and commercial locksets with facilities in Taiwan and the Philippines. Of the $1.4 billion cash purchase price, $100 million is being held in escrow pending the subsequent closing of the Tong Lung portion of the HHI acquisition, which is expected to occur in the first quarter of 2013.Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, engineered fastening systems, healthcare solutions, infrastructure solutions and more. Learn more at www.stanleyblackanddecker.com.
Stanley Black & Decker Completes Sale Of Hardware & Home Improvement Group (HHI) To Spectrum Brands Holdings
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