Stanley Black & Decker To Divest Oil & Gas Business To Pipeline Technique

RTTNews | 1274 hari yang lalu
Stanley Black & Decker To Divest Oil & Gas Business To Pipeline Technique

(RTTNews) - Stanley Black & Decker (SWK) announced Tuesday it has signed a definitive agreement for the sale of its STANLEY Oil & Gas business to Pipeline Technique Ltd., a leading provider of solutions to the energy industry. The terms of the deal were not disclosed.

STANLEY Oil & Gas encompasses pipeline services and equipment businesses including CRC-Evans Pipeline International, Pipeline Induction Heat Ltd. and STANLEY Inspection, which generated combined revenues of approximately $140 million in 2021.

The proposed transaction further advances Stanley Black & Decker's portfolio transformation and strategic commitment to streamlining the company to focus on its core Tools & Outdoor and Industrial businesses.

Stanley Black & Decker expects to incur a pre-tax, non-cash charge of approximately $125 to $200 million related to the write-down of the Oil & Gas net assets, which will be excluded from adjusted earnings.

The results of the Oil & Gas business will remain in continuing operations and will not be reclassified as discontinued operations. The transaction is subject to regulatory approval and other customary closing conditions.

read more
CPSC Recalls: Gazebos, Mowers, Power Banks, Coffee Makers, Candles, Baby Loungers

CPSC Recalls: Gazebos, Mowers, Power Banks, Coffee Makers, Candles, Baby Loungers

The U.S. Consumer Product safety Commission or CPSC has announced recalls including BJ's gazebos, Stanley Black & Decker mowers, IKEA power banks, ALDI coffee makers, Trader Joe's candles, and certain baby loungers, citing various reasons. The recalls include BJ's Wholesale Club's' about 32,500 units of Berkley Jensen Gazebos citing injury risk; Stanley Black & Decker Inc.'s about 46,200 units...
RTTNews | 494 hari yang lalu
Stanley Black & Decker Appoints Patrick Hallinan As New CFO

Stanley Black & Decker Appoints Patrick Hallinan As New CFO

Stanley Black & Decker (SWK) announced Monday the appointment of Patrick Hallinan to Executive Vice President, Chief Financial Officer, effective April 6. Hallinan, who succeeds interim CFO Corbin Walburger, will report to Donald Allan Jr., President and CEO of Stanley Black & Decker.
RTTNews | 1065 hari yang lalu
U.S. Consumer Confidence Deteriorates For Fifth Straight Month In December

U.S. Consumer Confidence Deteriorates For Fifth Straight Month In December

Consumer confidence in the U.S. deteriorated for the fifth consecutive month in December, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index slid to 89.1 in December from an upwardly revised 92.9 in November.
RTTNews | 1j 20min yang lalu
U.S. Industrial Production Rises 0.2% In November, Slightly More Than Expected

U.S. Industrial Production Rises 0.2% In November, Slightly More Than Expected

A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased by slightly more than expected in the month of November. The Fed said industrial production rose by 0.2 percent in November after edging down by 0.1 percent in October. Economists had expected industrial production to inch up by 0.1 percent.
RTTNews | 1j 23min yang lalu
U.S. Economy Grows Much More Than Expected In Q3

U.S. Economy Grows Much More Than Expected In Q3

A report released by the Commerce Department on Tuesday showed the U.S. economy grew by much more than expected in the third quarter of 2025. The Commerce Department said real gross domestic product spiked by 4.3 percent in the third quarter after surging by 3.8 percent in the second quarter. Economists had expected GDP to jump by 3.3 percent.
RTTNews | 1j 44min yang lalu
U.S. Durable Goods Orders Plunge 2.2% In October, More Than Expected

U.S. Durable Goods Orders Plunge 2.2% In October, More Than Expected

Reflecting a steep drop in orders for transportation equipment, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured durable goods fell by more than expected in the month of October. The report said durable goods orders tumbled by 2.2 percent in October after climbing by an upwardly revised 0.7 percent in September.
RTTNews | 1j 58min yang lalu