Acme United Corporation Acquires Clauss Cutlery Assets

FAIRFIELD, Conn.--()--June 1, 2004--Acme United Corporation (ASE:ACU) announced today the acquisition of the scissor and cutting business of Clauss Cutlery from Alco Industries.

The scissor and cutting business at Clauss is expected to generate approximately $2.0 million in annual revenues. The purchase price was the aggregate value of inventory, trademarks and brand names totaling approximately $500,000.

Clauss Cutlery was founded in 1877 in Fremont, Ohio and at one time was the largest manufacturer of scissors in the world. It pioneered many sewing, stationery, and industrial scissor designs, and has a rich history of quality products.

Today, Clauss has strong presence in the industrial and floral markets. Its scissors and cutting tools are distributed by most major industrial distributors and are sold to the auto, textile, food processing, and electronic industries. The Clauss family of floral scissors is used commercially by leading florists in North America.

Walter C. Johnsen, President and CEO of Acme United said, "Clauss provides an excellent platform on which to build. Its customers increase the market reach of all our products, including the measuring and safety categories. It provides a broader offering of industrial and heavy duty scissors, and a separate brand for particularly high quality products."

Mr. Johnsen also said that the Clauss business will be folded into existing Acme operations, and that operating efficiencies are anticipated from the increased volume.

Acme United Corporation is a specialized supplier of cutting devices, measuring instruments, and safety products for school, home, office, and industrial use.

Contacts

Acme United Corporation
Paul G. Driscoll, 203-332-7330
Fax: 203-576-1547

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Contacts

Acme United Corporation
Paul G. Driscoll, 203-332-7330
Fax: 203-576-1547