UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported): October 7, 2009
ACME UNITED CORPORATION
(Exact name of registrant as specified in its charter)
__________________
|
Connecticut |
001-07698 |
06-0236700 |
|
(State or other jurisdiction of
incorporation or organization) |
(Commission file number)
|
(I.R.S. Employer
Identification No.) |
|
60 Round Hill Road, Fairfield, Connecticut |
06824 | |
|
(Address of principal executive offices) |
(Zip Code) | |
Registrant’s telephone number, including area code: (203) 254-6060
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 8.01. Other Events
On October 7, 2009 Acme United Corporation, issued a press release announcing the approval by its Board of Directors of a stock repurchase program. The press release is furnished as an exhibit to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
((c) Exhibits
Exhibit Number Description
|
Press release dated October 7, 2009. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ACME UNITED CORPORATION
By /s/ Walter C. Johnsen
______________________________
Walter C. Johnsen
Chairman and
Chief Executive Officer
Dated: October 7, 2009
By /s/ Paul G. Driscoll
______________________________
Paul G. Driscoll
Vice President and
Chief Financial Officer
Dated: October 7, 2009
2
Exhibit 99.1
ACME UNITED CORPORATION NEWS RELEASE
| CONTACT: | Paul G. Driscoll | Acme United Corporation | 60 Round Hill Road | Fairfield, CT 06824 |
| Phone: (203) 254-6060 | FAX: (203) 254-6521 |
FOR IMMEDIATE RELEASE October 7, 2009
ACME UNITED CORPORATION BOARD APPROVES STOCK BUYBACK AND CASH DIVIDEND
FAIRFIELD, CONN. – October 7, 2009 – Acme United Corporation (NYSE AMEX:ACU) announced today that its Board of Directors approved a new stock repurchase program of up to 200,000 common shares. The Company may repurchase up to 49,335 shares under its repurchase program previously announced on December 19, 2008.
The Board of Directors also declared a cash dividend of 5 cents per share on its outstanding common stock. The dividend is payable on November 10, 2009 to stockholders of record on the close of business on October 20, 2009.
Walter C. Johnsen, Chairman and CEO said, “Acme United is generating strong cash flow despite soft sales and earnings. Our debt continues to decline and we feel we are well positioned to take advantage of growth opportunities. We believe purchasing our stock is an attractive use of cash for our shareholders”.
There were 3,258,368 shares outstanding as of October 6, 2009.
ACME UNITED CORPORATION is a specialized supplier of cutting devices, measuring instruments, and safety products for school, home, office, hardware and industrial use. Its
leading brands include Westcott®, Clauss®, and PhysiciansCare ®.
Forward-looking statements in this report, including without limitation, statements related to the Company’s plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned
that such forward-looking statements involve risks and uncertainties including without limitation the following: (i) the Company’s plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the Company’s plans and results of operations will be affected by the Company’s ability to manage its growth, and (iii) other risks and uncertainties indicated from time to time in the Company’s filings with the Securities
and Exchange Commission.
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