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Black & Decker to Sell European Security Hardware Business
Mar 18, 2003 |
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The Black & Decker Corporation announced today that it has signed an agreement to sell its European Security Hardware Business to Assa Abloy for U.S. $108 million.
The European Security Hardware Business, which includes the brand names DOM, Nemef, and Corbin, had net sales in 2002 of approximately $102 million. The sale is subject to regulatory approval and is not expected to have a material effect on the Corporation's financial results for 2003.