Enerpac Tool (EPAC) 8-K Actuant Announces Plans to Divest European Electrical Business; Expects to Report Comparable Fiscal 2010 Results above Prior Guidance

Exhibit 99.1

Actuant Announces Plans to Divest European Electrical Business; Expects to Report Comparable Fiscal 2010 Results above Prior Guidance

MILWAUKEE--(BUSINESS WIRE)--September 22, 2010--Actuant Corporation (NYSE:ATU) today announced that it plans to divest its European Electrical business, which markets its products primarily under the Kopp brand name. The European Electrical business has previously been reported as part of the Company's Electrical segment. "This planned transaction reflects our proactive portfolio management efforts to focus on platforms where we can create the most shareholder value," said Robert C. Arzbaecher, Actuant Chairman and CEO.

European Electrical (consisting of Kopp and Dresco) designs, manufactures and markets electrical sockets, switches and other tools and consumables predominately for the European Do-It-Yourself (DIY) retail market. It has operations in Germany, Austria and Tunisia, and employs approximately 525 people. Its annual revenues approximate $105 million.

"The Kopp business has a strong brand and market position, a committed workforce, and prospects for future profitable growth,” continued Arzbaecher. “However, we believe that future growth can be more fully realized with an owner focused on the European DIY market. I want to thank the employees for their many contributions under Actuant ownership. During the divestiture process, the European Electrical business will continue to focus on meeting and exceeding customer requirements for high quality electrical products.”

As a result of its divestiture plans, Actuant has conducted an impairment analysis of European Electrical and expects to report a non-cash asset impairment charge in the range of $35-40 million in its fourth quarter operating results. Additionally, European Electrical’s operating results have been removed from continuing operations in Actuant’s Condensed Consolidated Statement of Operations. Historical operating results, adjusted to remove European Electrical from continuing operations, are included in the attachment to this press release.

Actuant will report its fourth quarter and full year 2010 results on September 29. As a result of the non-cash impairment charge and removal of European Electrical results from continuing operations, actual reported results will not be comparable to the sales and diluted earnings per share (EPS) guidance provided in Actuant’s June 17, 2010 third quarter earnings release. On a comparable basis, fourth quarter and full year sales and EPS are expected to be slightly above the high end of the previous guidance range.

A more comprehensive review of fourth quarter and full year 2010 results will be discussed in the Company's fourth quarter earnings release and conference call scheduled for September 29, 2010.

About Actuant

Actuant Corporation is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic and electrical tools and supplies; specialized products and services for energy related industries and highly engineered position and motion control systems. The Company was founded in 1910 and is headquartered in Butler, Wisconsin. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its businesses, visit the Company's website at www.actuant.com.

Safe Harbor

Certain of the above comments represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. Management cautions that these statements are based on current estimates of future performance and are highly dependent upon a variety of factors, which could cause actual results to differ from these estimates. Actuant’s results are also subject to general economic conditions, variation in demand from customers, the impact of geopolitical activity on the economy, continued market acceptance of the Company’s new product introductions, the successful integration of acquisitions, restructuring, operating margin risk due to competitive pricing and operating efficiencies, supply chain risk, material and labor cost increases, foreign currency fluctuations and interest rate risk. See the Company’s Form 10-K filed with the Securities and Exchange Commission for further information regarding risk factors. Actuant disclaims any obligation to publicly update or revise any forward-looking statements as a result of new information, future events or any other reason.

Actuant Corporation
Condensed Consolidated Statements of Operations
(Dollars in thousands except per share amounts)
(Unaudited)
		Three Months Ended											Twelve			Three Months Ended									Nine
		November 30,			February 28,			May 31,			August 31,		Months Ended			November 30,			February 28,			May 31,			Months Ended
		2008			2009			2009			2009		August 31, 2009			2009			2010			2010			May 31, 2010
Net sales		$	335,274		$	263,709		$	257,620		$	261,022	$	1,117,625		$	272,640		$	267,438		$	310,068		$	850,146
Cost of products sold			213,340			175,405			167,861			172,792		729,398			172,517			171,075			193,882			537,474
	Gross profit		121,934			88,304			89,759			88,230		388,227			100,123			96,363			116,186			312,672
Selling, administrative and engineering expenses			66,366			66,559			57,522			59,557		250,004			65,303			64,257			69,452			199,012
Restructuring charges			674			2,564			8,218			8,074		19,530			2,777			9,276			1,356			13,409
Impairment charges			26,553			-			4,768			-		31,321			-			-			-			-
Amortization of intangible assets			4,211			4,963			5,112			5,358		19,644			5,435			5,351			5,285			16,071
	Operating profit		24,130			14,218			14,139			15,241		67,728			26,608			17,479			40,093			84,180
Financing costs, net			12,235			9,904			9,026			10,684		41,849			8,538			7,798			7,779			24,115
Other expense (income), net			(1,220	)		(779	)		1,087			198		(714	)		281			(234	)		315			362
	Earnings from continuing operations before income tax expense (benefit)		13,115			5,093			4,026			4,359		26,593			17,789			9,915			31,999			59,703
Income tax expense (benefit)			1,487			(15	)		(1,284	)		423		611			4,529			2,020			3,706			10,255
Earnings from continuing operations			11,628			5,108			5,310			3,936		25,982			13,260			7,895			28,293			49,448
Earnings (loss) from discontinued operations, net of income taxes			(30	)		(1,864	)		(22,945	)		12,580		(12,259	)		(1,406	)		(738	)		(6,458	)		(8,602	)
Net earnings (loss)		$	11,598		$	3,244		$	(17,635	)	$	16,516	$	13,723		$	11,854		$	7,157		$	21,835		$	40,846
Earnings from continuing operations per share
	Basic	$	0.21		$	0.09		$	0.09		$	0.06	$	0.45		$	0.20		$	0.12		$	0.42		$	0.73
	Diluted		0.19			0.09			0.09			0.06		0.43			0.19			0.11			0.39			0.69
Earnings (loss) per share
	Basic	$	0.21		$	0.06		$	(0.31	)	$	0.26	$	0.24		$	0.18		$	0.11		$	0.32		$	0.60
	Diluted		0.19			0.06			(0.27	)		0.24		0.24			0.17			0.10			0.30			0.57
Weighted average common shares outstanding
	Basic		56,022			56,170			56,252			63,742		58,047			67,542			67,595			67,642			67,593
	Diluted		64,395			64,256			64,051			71,554		66,064			74,012			74,068			74,389			74,156

ACTUANT CORPORATION
SUPPLEMENTAL UNAUDITED DATA FROM CONTINUING OPERATIONS
	(Dollars in thousands)
			FISCAL 2009															FISCAL 2010
			Q1			Q2			Q3			Q4			TOTAL			Q1			Q2			Q3			TOTAL
SALES
	INDUSTRIAL SEGMENT		$	90,524		$	71,682		$	62,843		$	61,802		$	286,851		$	65,308		$	69,235		$	79,744		$	214,287
	ENERGY SEGMENT			73,982			59,526			62,251			63,731			259,490			64,065			53,862			56,645			174,572
	ELECTRICAL SEGMENT			67,383			59,629			56,218			58,758			241,988			54,065			54,927			61,967			170,959
	ENGINEERED SOLUTIONS SEGMENT			103,385			72,872			76,308			76,731			329,296			89,202			89,414			111,712			290,328
		TOTAL	$	335,274		$	263,709		$	257,620		$	261,022		$	1,117,625		$	272,640		$	267,438		$	310,068		$	850,146
% SALES GROWTH
	INDUSTRIAL SEGMENT			4	%		-18	%		-38	%		-37	%		-23	%		-28	%		-3	%		27	%		-5	%
	ENERGY SEGMENT			49	%		37	%		7	%		5	%		22	%		-13	%		-10	%		-9	%		-11	%
	ELECTRICAL SEGMENT			-22	%		-29	%		-34	%		-21	%		-27	%		-20	%		-8	%		10	%		-7	%
	ENGINEERED SOLUTIONS SEGMENT			-23	%		-44	%		-47	%		-37	%		-38	%		-14	%		23	%		46	%		15	%
		TOTAL		-6	%		-23	%		-34	%		-26	%		-23	%		-19	%		1	%		20	%		-1	%
OPERATING PROFIT (LOSS)
	INDUSTRIAL SEGMENT		$	26,107		$	15,972		$	15,597		$	13,692		$	71,368		$	13,854		$	15,847		$	20,703		$	50,404
	ENERGY SEGMENT			15,647			5,895			11,772			11,801			45,115			11,502			5,615			7,326			24,443
	ELECTRICAL SEGMENT			4,935			2,663			3,856			3,559			15,012			4,073			5,539			7,309			16,921
	ENGINEERED SOLUTIONS SEGMENT			7,865			(2,735	)		991			342			6,463			5,481			6,007			13,554			25,042
	CORPORATE / GENERAL			(3,197	)		(5,013	)		(4,815	)		(5,042	)		(18,066	)		(5,471	)		(5,561	)		(7,351	)		(18,383	)
		TOTAL - EXCLUDING RESTRUCTURING CHARGES	$	51,357		$	16,782		$	27,401		$	24,352		$	119,892		$	29,439		$	27,447		$	41,541		$	98,427
	IMPAIRMENT CHARGES			(26,553	)		-			(4,768	)		-			(31,321	)		-			-			-			-
	RESTRUCTURING CHARGES			(674	)		(2,564	)		(8,494	)		(9,111	)		(20,843	)		(2,831	)		(9,968	)		(1,448	)		(14,247	)
		TOTAL	$	24,130		$	14,218		$	14,139		$	15,241		$	67,728		$	26,608		$	17,479		$	40,093		$	84,180
OPERATING PROFIT %
	INDUSTRIAL SEGMENT			28.8	%		22.3	%		24.8	%		22.2	%		24.9	%		21.2	%		22.9	%		26.0	%		23.5	%
	ENERGY SEGMENT			21.1	%		9.9	%		18.9	%		18.5	%		17.4	%		18.0	%		10.4	%		12.9	%		14.0	%
	ELECTRICAL SEGMENT			7.3	%		4.5	%		6.9	%		6.1	%		6.2	%		7.5	%		10.1	%		11.8	%		9.9	%
	ENGINEERED SOLUTIONS SEGMENT			7.6	%		-3.8	%		1.3	%		0.4	%		2.0	%		6.1	%		6.7	%		12.1	%		8.6	%
		TOTAL (INCLUDING CORPORATE) - EXCLUDING RESTRUCTURING CHARGES		15.3	%		6.4	%		10.6	%		9.3	%		10.7	%		10.8	%		10.3	%		13.4	%		11.6	%
EBITDA
	INDUSTRIAL SEGMENT		$	27,139		$	17,058		$	18,208		$	15,322		$	77,727		$	15,633		$	16,639		$	21,632		$	53,904
	ENERGY SEGMENT			21,671			11,492			15,080			16,235			64,478			15,493			10,072			11,353			36,918
	ELECTRICAL SEGMENT			6,438			4,113			5,494			5,186			21,231			5,675			6,988			8,632			21,295
	ENGINEERED SOLUTIONS SEGMENT			12,417			1,274			3,879			4,953			22,524			8,981			10,168			17,373			36,522
	CORPORATE / GENERAL			(3,110	)		(4,058	)		(4,237	)		(4,196	)		(15,601	)		(4,771	)		(4,339	)		(6,542	)		(15,652	)
		TOTAL - EXCLUDING RESTRUCTURING CHARGES	$	64,555		$	29,879		$	38,424		$	37,500		$	170,358		$	41,011		$	39,528		$	52,448		$	132,986
	IMPAIRMENT CHARGES			(26,553	)		-			(4,768	)		-			(31,321	)		-			-			-			-
	RESTRUCTURING CHARGES			(674	)		(2,564	)		(8,494	)		(9,111	)		(20,843	)		(2,831	)		(9,968	)		(1,448	)		(14,247	)
		TOTAL	$	37,328		$	27,315		$	25,162		$	28,389		$	118,194		$	38,180		$	29,560		$	51,000		$	118,739
EBITDA %
	INDUSTRIAL SEGMENT			30.0	%		23.8	%		29.0	%		24.8	%		27.1	%		23.9	%		24.0	%		27.1	%		25.2	%
	ENERGY SEGMENT			29.3	%		19.3	%		24.2	%		25.5	%		24.8	%		24.2	%		18.7	%		20.0	%		21.1	%
	ELECTRICAL SEGMENT			9.6	%		6.9	%		9.8	%		8.8	%		8.8	%		10.5	%		12.7	%		13.9	%		12.5	%
	ENGINEERED SOLUTIONS SEGMENT			12.0	%		1.7	%		5.1	%		6.5	%		6.8	%		10.1	%		11.4	%		15.6	%		12.6	%
		TOTAL (INCLUDING CORPORATE) - EXCLUDING RESTRUCTURING CHARGES		19.3	%		11.3	%		14.9	%		14.4	%		15.2	%		15.0	%		14.8	%		16.9	%		15.6	%

ACTUANT CORPORATION
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
	(Dollars in thousands, except for per share amounts)
			FISCAL 2009															FISCAL 2010
			Q1			Q2			Q3			Q4			TOTAL			Q1			Q2			Q3			TOTAL
OPERATING PROFIT (LOSS), EXCLUDING RESTRUCTURING CHARGES AND IMPAIRMENT CHARGES
	INDUSTRIAL SEGMENT
		OPERATING PROFIT (GAAP MEASURE)	$	26,007		$	15,545		$	14,633		$	11,266		$	67,451		$	13,676		$	10,937		$	20,374		$	44,987
		RESTRUCTURING CHARGES		100			427			964			2,426			3,917			178			4,910			329			5,417
		ADJUSTED OPERATING PROFIT (NON-GAAP MEASURE)	$	26,107		$	15,972		$	15,597		$	13,692		$	71,368		$	13,854		$	15,847		$	20,703		$	50,404
	ENERGY SEGMENT
		OPERATING PROFIT (GAAP MEASURE)	$	15,533		$	5,976		$	11,508		$	11,075		$	44,092		$	11,359		$	3,922		$	7,203		$	22,484
		RESTRUCTURING CHARGES		114			(81	)		264			726			1,023			143			1,693			123			1,959
		ADJUSTED OPERATING PROFIT (NON-GAAP MEASURE)	$	15,647		$	5,895		$	11,772		$	11,801		$	45,115		$	11,502		$	5,615		$	7,326		$	24,443
	ELECTRICAL SEGMENT
		OPERATING PROFIT (LOSS) (GAAP MEASURE)	$	4,900		$	1,959		$	(4,293	)	$	762		$	3,327		$	2,186		$	4,373		$	6,775		$	13,334
		RESTRUCTURING CHARGES		35			704			3,381			2,797			6,917			1,887			1,166			534			3,587
		IMPAIRMENT CHARGE		-			-			4,768			-			4,768			-			-			-			-
		ADJUSTED OPERATING PROFIT (NON-GAAP MEASURE)	$	4,935		$	2,663		$	3,856		$	3,559		$	15,012		$	4,073		$	5,539		$	7,309		$	16,921
	ENGINEERED SOLUTIONS
		OPERATING PROFIT (LOSS) (GAAP MEASURE)	$	(19,113	)	$	(3,985	)	$	(2,670	)	$	(2,664	)	$	(28,432	)	$	5,053		$	3,995		$	13,170		$	22,218
		RESTRUCTURING CHARGES		425			1,250			3,661			3,006			8,342			428			2,012			384			2,824
		IMPAIRMENT CHARGE		26,553			-			-			-			26,553			-			-			-			-
		ADJUSTED OPERATING PROFIT (LOSS) (NON-GAAP MEASURE)	$	7,865		$	(2,735	)	$	991		$	342		$	6,463		$	5,481		$	6,007		$	13,554		$	25,042
	CORPORATE
		OPERATING LOSS (GAAP MEASURE)	$	(3,197	)	$	(5,277	)	$	(5,039	)	$	(5,198	)	$	(18,710	)	$	(5,666	)	$	(5,748	)	$	(7,429	)	$	(18,843	)
		RESTRUCTURING CHARGES		-			264			224			156			644			195			187			78			460
		ADJUSTED OPERATING LOSS (NON-GAAP MEASURE)	$	(3,197	)	$	(5,013	)	$	(4,815	)	$	(5,042	)	$	(18,066	)	$	(5,471	)	$	(5,561	)	$	(7,351	)	$	(18,383	)
NET EARNINGS (LOSS), EXCLUDING RESTRUCTURING CHARGES, IMPAIRMENT CHARGES, INCOME TAX ADJUSTMENTS, DEBT EXTINGUISHMENT CHARGES AND DISCONTINUED OPERATIONS (2)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$	11,598		$	3,244		$	(17,635	)	$	16,516		$	13,723		$	11,854		$	7,157		$	21,835		$	40,846
		RESTRUCTURING CHARGES, NET OF TAX BENEFIT		481			1,553			4,920			6,055			13,009			1,804			6,863			1,069			9,736
		IMPAIRMENT CHARGES, NET OF TAX BENEFIT		16,463			-			2,981			-			19,444			-			-			-			-
		INCOME TAX ADJUSTMENTS		-			-			-			-			-			-			-			632			632
		DEBT EXTINGUISHMENT CHARGES, NET OF TAX BENEFIT		(236	)		-			-			1,303			1,067			-			-			-			-
		DISCONTINUED OPERATIONS, NET OF TAX BENEFIT		30			1,864			22,945			(12,580	)		12,259			1,406			738			1,853			3,997
		TOTAL (NON-GAAP MEASURE)	$	28,336		$	6,661		$	13,211		$	11,294		$	59,502		$	15,064		$	14,758		$	25,389		$	55,211
DILUTED EARNINGS (LOSS) PER SHARE, EXCLUDING RESTRUCTURING CHARGES, IMPAIRMENT CHARGES, INCOME TAX ADJUSTMENTS, DEBT EXTINGUISHMENT CHARGES AND DISCONTINUED OPERATIONS (2)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$	0.19			0.06			(0.27	)		0.24		$	0.24		$	0.17		$	0.10		$	0.30		$	0.57
		RESTRUCTURING CHARGES, NET OF TAX BENEFIT		0.01			0.02			0.08			0.09			0.20			0.02			0.10			0.01			0.13
		IMPAIRMENT CHARGES, NET OF TAX BENEFIT		0.26			-			0.05			-			0.29			-			-			-			-
		INCOME TAX ADJUSTMENTS		-			-			-			-			-			-			-			0.01			0.01
		DEBT EXTINGUISHMENT CHARGES, NET OF TAX BENEFIT		(0.00	)		-			-			0.02			0.02			-			-			-			-
		DISCONTINUED OPERATIONS, NET OF TAX BENEFIT		-			0.03			0.36			(0.18	)		0.19			0.02			0.01			0.03			0.05
		TOTAL (NON-GAAP MEASURE)	$	0.45		$	0.11		$	0.22		$	0.17		$	0.94		$	0.21		$	0.21		$	0.35		$	0.76
EBITDA (3)
	NET EARNINGS (LOSS) (GAAP MEASURE)		$	11,598		$	3,244		$	(17,635	)	$	16,516		$	13,723		$	11,854		$	7,157		$	21,835		$	40,846
		FINANCING COSTS, NET		12,235			9,904			9,026			10,684			41,849			8,538			7,798			7,779			24,115
		INCOME TAX EXPENSE		1,487			(15	)		(1,284	)		423			611			4,529			2,020			3,706			10,255
		DEPRECIATION & AMORTIZATION		11,978			12,318			12,110			13,346			49,752			11,853			11,847			11,222			34,922
		DISCONTINUED OPERATIONS, NET OF TAX BENEFIT		30			1,864			22,945			(12,580	)		12,259			1,406			738			6,458			8,602
		EBITDA (NON-GAAP MEASURE)	$	37,328		$	27,315		$	25,162		$	28,389		$	118,194		$	38,180		$	29,560		$	51,000		$	118,739
		IMPAIRMENT CHARGES		26,553			-			4,768			-			31,321			-			-			-			-
		RESTRUCTURING CHARGES		674			2,564			8,494			9,111			20,843			2,831			9,968			1,448			14,247
		EBITDA (NON-GAAP MEASURE) - EXCLUDING DISCONTINUED OPERATIONS, IMPAIRMENT AND RESTRUCTURING CHARGES	$	64,555		$	29,879		$	38,424		$	37,500		$	170,358		$	41,011		$	39,528		$	52,448		$	132,986

ACTUANT CORPORATION
FOOTNOTES FOR SUPPLEMENTAL UNAUDITED DATA AND RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
	(Dollars in thousands, except for per share amounts)
FOOTNOTES
NOTE:		The total of the individual quarters may not equal the annual total due to rounding.
(1)		A summary of restructuring charges included in cost of products sold is as follows:
			FISCAL 2009										FISCAL 2010
			Q1		Q2		Q3		Q4		TOTAL		Q1		Q2		Q3		TOTAL
		Restructuring - cost of products sold	$	-	$	-	$	276	$	1,037	$	1,313	$	54	$	692	$	92	$	839
(2)		Net earnings and diluted earnings per share excluding restructuring charges, impairment charges, debt extinguishment charges and discontinued operations represent net earnings and diluted earnings per share per the Condensed Consolidated Statements of Earnings net of charges or credits for items to be highlighted for comparability purposes.  These measures should not be considered as an alternative to net earnings or diluted earnings per share as an indicator of the Company's operating performance.  However, this presentation is important to investors for understanding the operating results of the current portfolio of Actuant companies.  The total of the individual components may not equal due to rounding.
(3)		EBITDA represents net earnings before financing costs, net, income tax expense, depreciation & amortization and discontinued operations.  EBITDA is not a calculation based upon generally accepted accounting principles (GAAP).  The amounts included in the EBITDA calculation, however, are derived from amounts included in the Condensed Consolidated Statements of Earnings data. EBITDA should not be considered as an alternative to net earnings or operating profit as an indicator of the Company's operating performance, or as an alternative to operating cash flows as a measure of liquidity.  Actuant has presented EBITDA because it regularly reviews this as a measure of the company's ability to incur and service debt.  In addition, EBITDA is used by many of our investors and lenders, and is presented as a convenience to them.  However, the EBITDA measure presented may not always be comparable to similarly titled measures reported by other companies due to differences in the components of the calculation.  The total of the individual quarters may not equal the annual total due to rounding.

CONTACT:
Actuant Corporation
Karen Bauer
Director, Investor Relations
262-373-7462