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

RTTNews | 1095 dagar sedan
Stocktwits
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.

Taggar: 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 | 315 dagar sedan
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 | 886 dagar sedan
Swiss Market Ends On Buoyant Note

Swiss Market Ends On Buoyant Note

The Switzerland market closed on a firm note on Friday, in line with markets across Europe, as trade tensions eased following the U.S. and China reaching an agreement.
RTTNews | 22 minuter sedan
European Stocks Close Higher As Trade Tensions Ease

European Stocks Close Higher As Trade Tensions Ease

European stocks closed higher on Friday as trade tensions eased after United States struck a deal with China to expedite rate earth shipments. The deal marks a significant step towards resolving the ongoing trade war between the world's two largest economies.
RTTNews | 46 minuter sedan
U.S. Consumer Sentiment Improves Slightly More Than Previously Estimated In June

U.S. Consumer Sentiment Improves Slightly More Than Previously Estimated In June

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. improved by slightly more than previously estimated in the month of June. The University of Michigan said its consumer sentiment index for June was upwardly revised to 60.7 from a preliminary reading of 60.5.
RTTNews | 4h 6minuter sedan
U.S. Consumer Prices Inch Up In Line With Expectations But Core Price Growth Exceeds Estimates

U.S. Consumer Prices Inch Up In Line With Expectations But Core Price Growth Exceeds Estimates

While the Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. crept up in line with expectations in the month of May, the report also showed core consumer prices rose by slightly more than expected. The report said the personal consumption expenditures (PCE) price index inched up by 0.1 percent in May, matching the uptick seen in April.
RTTNews | 4h 30minuter sedan
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