Acme United Enters $11.6 Million Fixed Rate Mortgage Facility
07 Décembre 2021 - 05:15PM
Acme United Corporation (NYSE American: ACU) announced that it has
entered a new mortgage agreement with HSBC Bank NA covering its
properties in Vancouver, Washington and Rocky Mount, North
Carolina. The new mortgage is $11.6 Million with a fixed rate of
3.8%. The term is 7 years with a 20-year amortization.
Approximately $3.0 million of the new mortgage was used to pay the
existing mortgage on the Vancouver property.
Walter Johnsen, Chairman and Chief Executive
Officer of Acme United, said, “During this time of increasing
inflation, we are pleased to fix the interest rate on $11.6 million
of our capitalization. The new facility also increases our debt
capacity to fund growth and potential acquisitions by $8.6
million.”
Mr. Johnsen concluded, “We would like to thank
HSBC for its help and support.”
ACME UNITED CORPORATION is a
leading worldwide supplier of innovative safety solutions and
cutting technology to the school, home, office, hardware, sporting
goods and industrial markets. Its leading brands include First Aid
Only®, First Aid Central®, PhysiciansCare®, Pac-Kit®, Spill
Magic®, Westcott®, Clauss®, Camillus®, Cuda®, DMT®, and Med-Nap.
For more information, visit www.acmeunited.com.
Forward-looking statements in this report,
including without limitation, statements related to the Company’s
plans, strategies, objectives, expectations, intentions and
adequacy of resources, are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements
involve risks and uncertainties including the impact that the
global COVID-19 pandemic has had and will continue to have on the
Company’s business, operations and financial results. These include
the extent of the COVID-19 pandemic, including the duration,
spread, severity, and any recurrence of the COVID-19 pandemic
including through existing and any new variant strains of the
underlying virus; the continuing effectiveness, global
availability, and public acceptance of vaccines; the duration and
scope of pandemic-related government orders and restrictions on
commercial and other activities, including retail store, office,
school and restaurant closures; the duration and scope of the
Company’s actions to maintain employee health at our offices,
production facilities and distribution centers; the extent of the
impact of the COVID-19 pandemic on overall demand for the Company’s
products; the pace and strength of economic recovery and the
heightened impact the pandemic has on many of the risks described
herein, including, without limitation, risks relating to the
on-going world-wide economic turbulence, and potential disruptions
in our supply chain, any of which could adversely impact the
Company’s ability to manufacture, source or distribute it products,
both domestically and internationally.
These risks and uncertainties further include,
without limitation, the following: (i) changes in the Company’s
plans, strategies, objectives, expectations and intentions, which
may be made at any time at the discretion of the Company; (ii) the
impact of uncertainties in global economic conditions, whether
caused by COVID-19 or otherwise, including the impact on the
Company’s suppliers and customers; (iii) the potential disruptions
in the Company’s supply chains, whether caused by COVID-19 or
otherwise; (iv) changes in client needs and consumer spending
habits, including COVID-19 related changes; (v) the impact of
competition; (vi) the impact of technological changes including,
specifically, the growth of online marketing and sales activity;
(vii) the Company’s ability to manage its growth effectively,
including its ability to successfully integrate any business it
might acquire; (viii) the Company’s ability to effectively manage
its inventory in a rapidly changing business environment, including
additional inventory acquired to respond to COVID-19 related
uncertainties; (ix) the impact of any increases in inflation; (x)
currency fluctuations; (xi) international trade policies and their
impact on demand for our products and our competitive position,
including the imposition of new tariffs or changes in existing
tariff rates; and (xii) other risks and uncertainties indicated
from time to time in the Company’s filings with the Securities and
Exchange Commission.
CONTACT: Paul G.
Driscoll Acme United
Corporation Phone: (203)
254-6060 FAX: (203)
254-6521
Acme United (AMEX:ACU)
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