Acme United Corporation Receives North Carolina Grant
FAIRFIELD, Conn.--(BUSINESS WIRE)--Acme United Corporation (NYSE MKT:ACU) today announced it has received a $400,000 Building Reuse Grant from Edgecombe County and the North Carolina Department of Commerce. The grant is in the form of a promissory note that will be forgiven based on job growth in the Company’s Rocky Mount, NC facility.
“We are delighted with the grant and look forward to continuing to expand in North Carolina. We would like to thank the Rocky Mount City Council, the North Carolina Department of Commerce, and the Edgecombe County Board of Commissioners for their support and assistance.”
The Rocky Mount property consists of 340,000 square feet of office, manufacturing, and warehouse space on 33 acres. It was acquired for $2.8 million in the bankruptcy of Roomstore, Inc. on August 30, 2013. Acme United has consolidated two distribution centers in the facility, and plans to add employees for manufacturing, distribution, and growth.
Walter C. Johnsen, Chairman and CEO said, “We are delighted with the grant and look forward to continuing to expand in North Carolina. We would like to thank the Rocky Mount City Council, the North Carolina Department of Commerce, and the Edgecombe County Board of Commissioners for their support and assistance.”
Mr. Johnsen added that the Company would like to acknowledge the efforts of the Carolinas Gateway Partnership which helped prepare the application and followed it throughout the funding process. They were truly committed to bringing jobs to the Rocky Mount community, and were instrumental in making the grant happen.
ACME UNITED CORPORATION is a leading worldwide supplier of innovative cutting, measuring and safety products to the school, home, office, hardware and industrial markets. Its leading brands include Westcott®, Clauss®, Camillus®, PhysiciansCare ® and Pac Kit®.
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, without limitation, the following: (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the impact of current uncertainties in global economic conditions and the ongoing financial crisis affecting the domestic and foreign banking system and financial markets, including the impact on the Company’s suppliers and customers (iii) currency fluctuations (iv) the Company’s plans and results of operations will be affected by the Company’s ability to manage its growth, (v) the Company’s ability to successfully integrate acquired business; and (vi) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.