NORCROSS SAFETY PRODUCTS L.L.C. ANNOUNCES EXECUTION OF AGREEMENT TO ACQUIRE FIBRE-METAL PRODUCTS COMPANY
OAK BROOK, IL, October 4, 2005 Norcross Safety Products L.L.C. (Norcross or the Company), a leading manufacturer and distributor of protective equipment to the general industrial, utility/high voltage and fire service markets, announced today that it signed a definitive agreement to acquire all of the outstanding capital stock of Fibre-Metal Products Company (Fibre-Metal).
Fibre-Metal, headquartered in Concordville, Pennsylvania and established in 1905, is a privately held designer and manufacturer of premium head protection equipment including protective caps, face shields and welding helmets. The company has additional locations in Aston, Pennsylvania and Mississauga, Ontario.
Completion of the acquisition is subject, among other matters, to regulatory filings including Hart-Scott-Rodino Act clearance and is expected to occur in the fourth quarter of 2005. After completion, it is anticipated that Fibre-Metal will operate as a part of Norcrosss industrial protection business.
The combination of Fibre-Metals customer base and expertise in the protective headgear market with our North Safety personal protective equipment business will increase our manufacturing and distribution capabilities, expand and diversify our product offerings and enhance our ability to serve our customers, noted Robert A. Peterson, Norcrosss President and Chief Executive Officer.
Speaking on behalf of the Fibre-Metal shareholders, Charles Grandi, Fibre-Metals President, said, We wanted to align our company with a market leader. Norcross will provide us the ability to prosper with the strength of a much larger global organization, while carrying on our 100-year family traditions of delivering outstanding customer service and producing leading products.
About Norcross Safety Products L.L.C.
Norcross Safety Products is a leading designer, manufacturer and marketer of branded products in the personal protection equipment industry. The Company manufactures and markets a full line of personal protection equipment for workers in the general industrial, fire service and utility/high voltage industries. The Company sells products under trusted, long-standing and well-recognized brand names, including North, Morning Pride, Ranger, Servus, Pro-Warrington and Salisbury. The Companys broad product offerings include, among other things, respiratory protection, protective footwear, hand protection, bunker gear and linemen equipment.
Contacts:Norcross Safety Products L.L.C.
David F. Myers, Jr.
Executive Vice President and
Chief Financial Officer