Mr. Damiano said, “DYMO has an impressive track record of growth. The combined strengths of DYMO and Newell Rubbermaid in the consumer, office and industrial channels will allow us to build on this success.”
Newell Rubbermaid’s Office Products Group accounted for $1.7 billion of the company’s $6.5 billion in sales in 2004. The group manufactures and markets writing instruments, art products and office organization supplies, led by a powerful brand family including Sharpie®, Paper Mate®, Parker®, Waterman®, EXPO®, uni-ball®, and Rolodex®.
Esselte plans to use the proceeds of this transaction to substantially repay all of its current outstanding debt. In that connection, Esselte plans on the closing date to call for redemption its then outstanding 7.625% senior notes due in 2011, in accordance with Article III of the note indenture.
Esselte will focus its energies on supporting its global filing and organization business which consists of Pendaflex and Oxford in the U.S. and Esselte and Leitz throughout the rest of the world. Additionally, it is expected that Esselte will devote increasingly more resources to building its creative division which is made up of the Xyron craft and hobby business. The crafting industry has been rapidly growing for the past four years. Esselte sees this business as its next growth engine.
Caution Concerning Forward-Looking Statements
The statements in this press release that are not historical in nature constitute forward-looking statements. These forward-looking statements relate to information or assumptions about the impact of the acquisition on earnings, internal sales, income/(loss), earnings per share, capital expenditures, cash flow, dividends, restructuring, impairment and other charges, potential losses on divestiture, costs and cost savings and management’s plans, projections and objectives for future operations and performance. Actual results could differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, our dependence on the strength of retail economies in various parts of the world; competition with numerous other manufacturers and distributors of consumer products; major retailers’ strong bargaining power; changes in the prices of raw materials used by the company; our ability to develop innovative new products and to develop, maintain and strengthen our end-user brands; our ability to improve productivity and streamline operations; our ability to integrate previously acquired businesses; the risks inherent in our foreign operations and those factors listed in the company’s first quarter 2005 Form 10-Q, including Exhibit 99.1 thereto, filed with the Securities and Exchange Commission.
About Newell Rubbermaid
Newell Rubbermaid Inc. is a global marketer of consumer and commercial products with 2004 sales of $6.5 billion and a powerful brand family including Sharpie®, Paper Mate®, Parker®, Waterman®, Rubbermaid®, Calphalon®, Little Tikes®, Graco®, Levolor®, BernzOmatic®,
Newell Rubbermaid Inc.
Atlanta, GA
Securities Listed
NYSE
Common Stock
(Symbol: NWL)
www.newellrubbermaid.com
Jesse Herron
Vice President, Investor Relations
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Cari Davidson
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Phone: 770-407-3994
Fax: 770-407-3983
FOR ESSELTE:
Chris Curran
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