Power tool maker The Black & Decker Corporation announced that it has completed the purchase of the Tools Group from Pentair, Inc. for approximately U.S. $775 million in cash.
The Tools Group, which includes the Porter-Cable, Delta, DeVilbiss Air Power, Oldham Saw, and FLEX businesses, had sales of $1.08 billion and operating profit of $82 million in 2003.
In addition, the company announced that it will discuss its third-quarter results and the outlook for the remainder of 2004 during a conference call on Wednesday, October 27, 2004, following the release of its third-quarter 2004 results. The call is scheduled to begin at 10:00 a.m., E.T., and will be webcast over the Internet.
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