Black & Decker Buys Masco Hardware Units Oct 2, 2003

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Black & Decker Corp. said it bought two hardware units from Masco Corp. for U.S. $275 million, in a move that will expand its product line. The acquisition of the Baldwin Hardware and Weiser Lock businesses from Masco, a Taylor, MI, U.S. building products maker, adds to Black & Decker's Kwikset brand of lock and door hardware products. Last year, Baldwin and Weiser had combined net sales of about U.S. $250 million, the companies said in a news release.

Black & Decker, based in Towson, MD, U.S., said the acquisition would not materially affect 2003 results, but would add to results in 2004.

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