Stanley Black & Decker said Monday it will buy Infastech, a Hong Kong-based maker of engineered mechanical fasteners, in an $850 million cash deal that boosts the company’s presence in Asia and complements Stanley’s existing engineered fastening business in Shelton, Conn.
Infastech, when combined with Shelton-based Emhart Teknologies, “will broaden our product offering while deepening our [intellectual property] portfolio and R&D capabilities,” Stanley said in a written release after markets closed Monday.
Stanley said the purchase, expected to happen in the last three months of this year, would immediately add 15 cents a share to earnings. By the third year, Stanley said, it would add to earnings by 35 cents a share — and would lead to $25 million in cost savings. (…)
via Stanley Agrees To Buy Hong Kong Fastener Firm That Meshes With Shelton Business – Courant.com.