EXHIBIT 99.1
ACME UNITED CORPORATION NEWS RELEASE
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CONTACT: Paul G. Driscoll
Acme United Corporation
60 Round Hill Road Fairfield, CT 06824
Phone: (203) 254-6060 FAX: (203) 254-6521
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FOR IMMEDIATE RELEASE November 15, 2006
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ACME UNITED CORPORATION ANNOUNCES PROMOTIONS
FAIRFIELD, CONN. - November 15, 2006 - Acme United Corporation
(AMEX:ACU) today announced that Walter C. Johnsen, the President and Chief
Executive Officer of the Company since 1995, has been elected Chairman of the
Board effective January 1, 2007. Gary D. Penisten, the current Chairman will
become Chairman Emeritus at the same time. He has served as Chairman since 1996.
Brian S. Olschan has been promoted to President and Chief Operating
Officer effective January 1, 2007. He joined the Company in 1996 and has served
as Executive Vice President and Chief Operating Officer since 1999.
Each of the three individuals is a member of the Board of Directors of
the Company. All three will stand for re-election to the Board at the annual
meeting of shareholders to be held in April 2007.
Mr. Penisten stated that, "Under our senior management team, during the
past five years Acme United's sales almost doubled. Net income has more than
tripled and the stock price has increased nearly five times. Innovation has been
accelerated. Products introduced in the last 36 months, including Titanium
Bonded scissors and paper trimmers and iPoint pencil sharpeners, account for
approximately 30% of revenues. We believe Acme United is well poised for future
growth." Mr. Penisten further stated that "The promotions of senior management
announced today reflect these accomplishments."
ACME UNITED CORPORATION is a specialized supplier of cutting devices,
measuring instruments, and safety products for school, home, office, and
industrial use.