Power tools maker Stanley Black & Decker revenues were up 12% to $2.7 billion in the first quarter of 2012. Organic revenues were up 3%.
"We commenced 2012 on solid footing amidst a macroeconomic backdrop filled with mixed signals," said Stanley Black & Decker President and CEO John F. Lundgren. "March 12th marked the two year anniversary of the Stanley Black & Decker combination and we remain pleased with how the integration has progressed. We are in the final stages of achieving the previously announced annualized cost synergy rate of $485 million as we enter 2013, up from our original forecast of $350 million. Our plans to achieve $300 - $400 million in revenue synergies by 2013 remain on track and we feel confident these projects will drive profitable organic growth as they did in 2011."
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