News

FAIRFIELD, Conn.-Acme United Corporation (NYSE AMEX:ACU) today announced that it has renewed its loan agreement with Wells Fargo Bank, N.A. The new two-year facility provides for borrowings up to $20 million at an interest rate of LIBOR plus 2%. The agreement expires on March 31, 2013.

“Acme United continues to generate strong sales, earnings, and cash flow. We intend to use the facility to finance growth, repurchase shares, and for acquisitions.”

This facility is intended to provide liquidity for growth, share repurchases, dividends, acquisitions, and other related business activities.

Walter C. Johnsen, Chairman and CEO said, “Acme United continues to generate strong sales, earnings, and cash flow. We intend to use the facility to finance growth, repurchase shares, and for acquisitions.”

He added that he is pleased to have the support of Wells Fargo Bank, and looks forward to continuing to build the company.

Acme United Corporation
Paul G. Driscoll, 203-254-6060
FAX: 203-254-6521