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

RTTNews | 1274 hari yang lalu
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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.

Teg: SWK
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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
European Stocks Close Broadly Higher

European Stocks Close Broadly Higher

European stocks closed higher on Tuesday with some of the markets hitting fresh highs, amid continued optimism the Federal Reserve will consider more rate cuts next year. The volume of business was thin in most the markets as traders remained on the sidelines ahead of upcoming Christmas holidays.
RTTNews | 6j 24min yang lalu
Canadian Stocks Turning In Mixed Performance

Canadian Stocks Turning In Mixed Performance

Canadian stocks are turning in a mixed performance on Tuesday with investors digesting the nation's GDP data and a slew of economic reports from the U.S. With truncated sessions and holidays ahead, the mood in the market remains a bit subdued and the volume of business is rather thin.
RTTNews | 7j 7min 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 | 9j 3min yang lalu
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