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Stock impact report

Stanley Black & Decker to Sell Oil & Gas Business >SWK [MarketWatch]

Stanley Black & Decker, Inc. (SWK) 
Last stanley black & decker, inc. earnings: 4/30 06:00 am Check Earnings Report
US:NYSE Investor Relations: stanleyblackanddecker.com
Company Research Source: MarketWatch
Technique Ltd., as the toolmaker continues to sharpen its focus on its core tools-and-outdoor and industrial segments. The purchase price wasn't immediately available, though Stanley said it expects to book a pretax charge of $125 million to $200 million related to the write-down of the unit's assets. The New Britain, Conn., company said its oil-and-gas unit, which comprises pipeline services and equipment businesses including CRC-Evans Pipeline International, Pipeline Induction Heat Ltd. and Stanley Inspection, generated about $140 million in revenue in 2021. Stanley, which posted 2021 revenue of $15.6 billion, late last year struck a deal to sell the bulk of its security business assets to Securitas AB for $3.2 billion. In April, it said it would sell its Access Technologies automatic-doors unit, the last piece of its security business, to Allegion PLC for $900 million. Write to Colin Kellaher at colin.kellaher@wsj.com Show less Read more
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